New Notes Alert! CBN to reprint N5, N10, N20, and N50 on paper by September 2013


The Central Bank of Nigeria will take delivery of new naira notes before the end of September for circulation, the Deputy Director, Operations, Dr Tunde Lemo, has said during an interview in Abuja.

The News Agency Of Nigeria reports that The apex bank had earlier said that new Naira notes would be in circulation by June, and that the smaller denomination notes (N5, N10, N20, and N50) would be reprinted on paper.

“We are going to take delivery of the new notes from this month of August. We will take delivery of the new notes before the end of September.

“The public will get a large quantity of the new notes to replace the old and mutilated notes, particularly the higher denomination notes in the first instance, then later the lower denominations,’’ he said.

Why change from paper to polymer and then polymer back to paper again? I guess we have too much money….. and they said they can’t pay university teachers.

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