More of the redesigned naira notes will be in circulation soon, the Central Bank of Nigeria (CBN) has said.

A statement yesterday by the Director of Corporate Communications, Isa AbdulMumim, said ‘the CBN is taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited’.

He also debunked insinuations that the old notes were to be phased out.

The statement reads: “The redesigned and old notes will continue to be accepted as legal tender. They will circulate side-by-side for transactions ahead of the December 31 deadline, when the old N1,000, N500 and N200 banknotes will eventually be phased out.

“The CBN will continue to supply the approved indent for the smooth running of the economy. The public is also urged to disregard reports suggesting a phase-out of the old currency notes. The allegation is fake. Such speculation is unfounded and a ploy by some interests to cause panic.”