“Is this redesign or colour painting”- Nigerians react to redesigned currency note

Following the unveiling of the new notes by President Muhammadu Buhari today, which marked the first time in 19 years the country will be redesigning its currency notes, Nigerians have reacted to the development as they express dissatisfaction with the ‘changes’ discovered.

The Central Bank of Nigeria, CBN, Governor, Mr Godwin Emefiele had on Tuesday said that the president will unveil the newly designed N1,000, N500 and N200 notes.

Emefiele announced that the CBN is now more determined to make Nigeria a cashless economy, as in other climes.

TheNewsGuru.com (TNG) reports that President Buhari on Wednesday finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN).

During the ceremony which was held before the Federal executive council meeting, President Buhari underscored the importance of re-designing the new naira notes.

He explained that it will aid the country address the issue of Illicit financial flows, corruption, improve the nation’s economy, as well as ensure an advancement in the value of the naira.

Noting that the currency redesign will also boost the CBN’s Monetary policy initiative, President Buhari stated that the first set of currency which was printed locally by the Nigeria printing and minting company will fundamentally prevent counterfeiting of the naira notes.

The president, however, appealed to Nigerians and urged them to embrace the new policy to re-design the naira.

CBN Governor, On his part, noted that  there would be heavy restriction on the volume of cash that people can withdraw over the counter, as it works with the EFCC to monitor the purpose of any heavy transactions.

According to him, the CBN will intensify the monitoring process and interrogate the process of withdrawals.

He asserted that the redesigned currency note can never be counterfeited.

Nigerians reaction to redesigned currency note

Taaooma wrote: Who colour grades these monies? Abi ink don finish for Printer?

Nikki Laoye wrote: Is this a joke or ? Because I am genuinely confused! This ain’t real right?

Sam Speedy wrote: What kind of a country is this?

The_hair_police wrote: I cant see any difference.

Iamnafizat wrote: Is this redesign or colour painting?

Be.a.diamond wrote: They just dey deceive us with colours.