New naira note, Godwin Emefiele. The Central Bank of Nigeria Governor, Godwin Emefiele has explained the features of the redesigned notes. Emefiele told State House Correspondents that it was in line with global best practices, noting that it was mandatory for the naira to be redesigned and re-issued every five to eight years. According to him, it is regrettable that the naira has not been redesigned for the past 19 years owing to lack of political will from previous administrations. "In the past, I have to confess that attempts by the CBN to redesign and re-issue the naira notes have been resisted. It is only President Muhammadu Buhari that has exhibited the courage to do so," he stated. Emefiele said it was the mandate of the CBN, to redesign and re-issue the notes, stressing that the exercise would become a regular trend after five to eight years. His words, "After today, the CBN will begin to redesign and reissue the naira for every five to eight years" The CBN
