President Muhammadu Buhari says his administration will not rescind the planned redesign of N1,000, N500 and N200 notes by the Central Bank of Nigeria.

He spoke in London Wednesday evening after meeting with King Charles III at Buckingham Palace.

On the decision to redesign the three naira notes, President Buhari said there is “No going back”, adding that the policy announced by the CBN Governor, Godwin Emefiele on October 26 has come to stay.

He said enough time had been given by the CBN for Nigerians to deposit the present naira notes at banks in exchange for the newly redesigned ones which will be issued by December 15.

He said: “On this change of currency, there will be a lot of money, but time has been given from October to December, three months is enough for whatever money you have to get it changed through the legal system. So, I don’t know why people are complaining about it.”

*Courtesy of Daily Trust newspaper