Buhari apologises: Why I approved CBN naira redesign policy

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President Muhammadu Buhari expressed regret to Nigerians regarding the naira redesign policy, clarifying that it was not implemented with the intention of causing difficulties but to enhance the economy.

In a video clip uploaded on Twitter by the governorship candidate of the All Progressives Congress (APC) in Kaduna state, Uba Sani, on Thursday, March 02, 2023, Buhari said: “I apologise to you for the hardship caused by the change of the naira.

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“It was done to boost the economy of the country, not to cause hardship to anybody.”

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Flashback Friday: The plan to redesign the N200, N500, and N1,000 notes was initially disclosed by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in October 2022.

As a result of the apex bank’s announcement that February 10th would mark the cut-off date for the utilisation of old naira notes, a shortage of the currency ensued.

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