What the law says about CBN’s power to redesign and release new notes

The central bank governor Godwin Emefiele announced on Wednesday, October 26th that the apex bank had obtained approval from the president to change the N200, N500, and N1000 notes.

According to him, in line with provisions of Sections 2(b), section 18(a), and section 19, Subsections a and b of the CBN Act 2007, the Management of the CBN has sought and obtained the approval of…

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