The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter payments.

Thelagostimes reports that this is coming about three weeks after President Muhammadu Buhari unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa.

The President unveiled the redesigned notes across the N200, N500 and N1,000 denominations.

Recall that the Governor, Central Bank of Nigeria, Godwin Emefiele, had in October, announced that apex bank would release re-designed naira notes by December 15, 2022.

He had also disclosed that the old notes would cease to be regarded as legal tender by January 31, 2023.

Emefiele had also pointed out that the redesigning of the naira notes would help to curb counterfeit notes, and reduce ransom payments to terrorists and kidnappers.