24 April 2013

Central Bank Of Nigeria Stops Polymer Note Production

The CBN deputy governor Tunde Lemo, in a statement on Sunday said the apex bank decided to scrap the polymer notes because they fade easily, despite earlier experiments which showed that the notes could last longer than paper notes.
Mr Lemo adds that no new polymer note is being printed at the moment and the CBN will begin to produce the second generation of lower denomination notes sometime between June and July this year.

The CBN deputy governor also appealed to Nigerians to be more careful in handling the naira notes, stressing that its campaign against the abuse of the currency has not been successful.


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