NIC Connect

Currency Swap
The Central Bank of Nigeria has issued a directive to circulate a new series of N200, N500, and N1,000 notes, effective December 15th, 2022.
of the Naira Redesign:

■To eliminate and disrupt counterfeit activities.
■To encourage a resilient and inclusive financial system.
■To circulate clean and fit notes across the country.


■ New designs will be introduced on 15th, December, 2022.

■ Current series of N200, N500 and N1000 notes are being withdrawn from circulation and will cease to be legal tender after January 31, 2023.

■ Nigerians are advised to commence deposit of cash holdings in these denominations at any bank branch or deposit machine.

■ You will not be charged for cash deposits at any bank branches during this period.
Old notes should be deposited into accounts.