Latest information about the new naira Note
About the New naira note
The new naira notes are the redesigned naira notes in Nigeria. These newly redesigned notes consist of just 3 denominations out of 8 denominations. Only the higher denominations of the Nigerian currency which are the N200, N500 and the N1000 naira notes were redesigned. All the other naira notes which are from N5, N10, 20, 50, 100 were not redesigned. The Nigeria new naira note was launched by the former president of Nigeria, Muhammadu Buhari. He launched the notes on the 23rd of November 2022. The new naira notes gradually began to circulate but it was still quite scarce to get. The plan was that both notes would exist side by side until the 31st of January when only the new notes will be legal tender, however, this plan wasn’t properly executed as this led to scarcity of cash in the country and serious hardship on the citizens. Eventually the old notes were allowed to remain legal tender till the 31st of December before another decision was made recently which will be discussed below.
The Central bank of Nigeria (CBN) has the responsibly to issue and manage the legal tender currency of Nigeria as recorded in the CBN act of 2007. The reason CBN made the decision to redesign the notes were the increasing rate of counterfeiting in the country. Accor5ding to CBN, the redesigning of the Nigerian naira notes should be undertaken every 5 to 8 years.
Latest news on naira notes
The supreme court of Nigeria has ruled that both the old and New Naira notes will remain legal tender till further notice. This was in a recent development. Recall the old naira notes were to be phased out by the 31st of December 2023, the latest decision which was taken by the supreme court states that it will continue to be a legal currency in Nigeria until further notice. The old naira note no longer has a deadline for now. The supreme court revealed this on the 29th of November 2023.
The federal government had filed an application on the 21st of November before the supreme court to extend the deadline that was set for the 31st of December. In the application, the AGF (Attorney-general of the federation), Lateef Fagbemi revealed that the plans to phase out the old naira note by the end of 2023 wasn’t feasible. According to him, it was because they haven’t been able to print out the number of new notes needed for the old one to be phased out.
New naira note samples
The new naira notes have only changed in colour. The notes which consist of the N200, N500 and N1000 note now have different colours from before. The N200 naira note is now red in colour as opposed to the green colour it used to be. The new N500 note is now light green while the N1000 naira note is now blue in colour.
See pictures of both the old and new naira notes below
What tribes are shown in the new N100 naira note
There is no newly redesigned N100 naira note. Only N200, N500 and N1000 notes were changed. However, the N100 naira note consists of some pictures including that of chief Obafemi Awolowo.
The old naira note also has the Zuma rock drawn on it but it was eventually replaced in 2014 which some traditionally dressed people. During the intertribal wars, it was the Gbagyi people who made use of this rock for retreat against the tribes that were invading them. The Zuma rock is in Niger state. It was founded by the Zuba people of Niger state.
The tribes on the N100 naira notes are not known however, from the dressing of the people in the pictures, one can guess Fulani tribe and Igbo tribe.
About the New naira note
The new naira notes are the redesigned naira notes in Nigeria. These newly redesigned notes consist of just 3 denominations out of 8 denominations. Only the higher denominations of the Nigerian currency which are the N200, N500 and the N1000 naira notes were redesigned. All the other naira notes which are from N5, N10, 20, 50, 100 were not redesigned. The Nigeria new naira note was launched by the former president of Nigeria, Muhammadu Buhari. He launched the notes on the 23rd of November 2022. The new naira notes gradually began to circulate but it was still quite scarce to get. The plan was that both notes would exist side by side until the 31st of January when only the new notes will be legal tender, however, this plan wasn’t properly executed as this led to scarcity of cash in the country and serious hardship on the citizens. Eventually the old notes were allowed to remain legal tender till the 31st of December before another decision was made recently which will be discussed below.
The Central bank of Nigeria (CBN) has the responsibly to issue and manage the legal tender currency of Nigeria as recorded in the CBN act of 2007. The reason CBN made the decision to redesign the notes were the increasing rate of counterfeiting in the country. Accor5ding to CBN, the redesigning of the Nigerian naira notes should be undertaken every 5 to 8 years.
Latest news on naira notes
The supreme court of Nigeria has ruled that both the old and New Naira notes will remain legal tender till further notice. This was in a recent development. Recall the old naira notes were to be phased out by the 31st of December 2023, the latest decision which was taken by the supreme court states that it will continue to be a legal currency in Nigeria until further notice. The old naira note no longer has a deadline for now. The supreme court revealed this on the 29th of November 2023.
The federal government had filed an application on the 21st of November before the supreme court to extend the deadline that was set for the 31st of December. In the application, the AGF (Attorney-general of the federation), Lateef Fagbemi revealed that the plans to phase out the old naira note by the end of 2023 wasn’t feasible. According to him, it was because they haven’t been able to print out the number of new notes needed for the old one to be phased out.
New naira note samples
The new naira notes have only changed in colour. The notes which consist of the N200, N500 and N1000 note now have different colours from before. The N200 naira note is now red in colour as opposed to the green colour it used to be. The new N500 note is now light green while the N1000 naira note is now blue in colour.
See pictures of both the old and new naira notes below
What tribes are shown in the new N100 naira note
There is no newly redesigned N100 naira note. Only N200, N500 and N1000 notes were changed. However, the N100 naira note consists of some pictures including that of chief Obafemi Awolowo.
The old naira note also has the Zuma rock drawn on it but it was eventually replaced in 2014 which some traditionally dressed people. During the intertribal wars, it was the Gbagyi people who made use of this rock for retreat against the tribes that were invading them. The Zuma rock is in Niger state. It was founded by the Zuba people of Niger state.
The tribes on the N100 naira notes are not known however, from the dressing of the people in the pictures, one can guess Fulani tribe and Igbo tribe.
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