Nigerians React Over New Naira Notes
The introduction of the new naira notes by the Central Bank of Nigeria (CBN) has sparked mixed reactions among Nigerians.
While some individuals like Femi Eden and Aderemi Lawrence Oluwanisola criticized the appearance of the new notes, others such as Tolulope Abimbola and Folashade saw potential benefits in addressing issues like vote-buying and inflation.
Concerns were raised about the limited timeframe for exchanging old notes, leading to a rush for the new currency.
Additionally, doubts surfaced regarding the economic impact of the redesign, with individuals like Sulaiman Ayinde and Reuben Akintola questioning its rationale.
Despite differing opinions, CBN Governor Godwin Emefiele highlighted the advantages of the currency redesign, stressing improved security features, enhanced monetary policy implementation, and increased financial inclusion.
Incase You Missed It
After two decades, Nigeria’s currency has received a new look, but not entirely. Last month, Godwin Emefiele, governor of the Central Bank of Nigeria, announced that the Naira would be undergoing some design changes and advised Nigerians to brace themselves for a makeover.
In his announcement, he stated that the exchange of old notes for new ones would begin in December and that the old notes would be completely phased out by 2023.
In accordance with the CBN’s directive, it was announced yesterday that Nigeria’s President, Muhammadu Buhari, would unveil the new notes today, 23rd of November, 2022.
Funny Reaction Over New Naira Notes
The President unveiled the new naira note, and Nigerians on social media has gone into frenzy in response to the new treads. The brightness of the new notes appears to differ from that of the old ones. Aside from that, there hasn’t been much of a shift.
The colors of the old notes were kept, but they were switched around. The new N200 notes, for example, appear to be the same color as the N10 notes, the new N500 notes appear to be the same color as the N20 notes, and the new N1000 notes appear to be the same color as the N50 notes.
The new notes kept their original dimensions and faces. There was no new Nigerian figure added to the notes. Of course, Nigerians have a lot to say about their new currency, and while very few comments support the CBN’s new move, others are baffled by the change and how strange it appears. Some of our favorite reactions so far are listed below.
See Citizens Reactions Below
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