New Naira Notes: Finally Buhari Explains How CBN, Emefiele is Working to Ensure Nigerians Don't Suffer

New Naira Notes: Finally Buhari Explains How CBN, Emefiele is Working to Ensure Nigerians Don't Suffer

President Muhammadu Buhari has said that the Central Bank of Nigeria (CBN) led by Godwin Emefiele, is working to ensure a wide distribution of the new redesign naira notes.

A statement signed by Garba Shehu, the presidential spokesperson on Saturday, January 28, said that there is ongoing improvement in the process of distributing the new notes by the apex bank.

Muhammadu Buhari, new naira, new notes, CBN, Godwin Emefiele
President Muhammadu Buhari said the CBN is working to assure a hitch-free distribution of the new naira notes. Photo: Bashir Ahmad
Source: Twitter

Shehu said that the decision to redesign the naira notes was aimed at addressing the hoarding of illicit funds across the country.

Stating that the present administration is not oblivious of the long queues at banks for the collection of the new notes, Shehu said the CBN is working to avoid any form of chaos throughout the process.

His words:

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“President Muhammadu Buhari, Saturday assured that government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly.
“Reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, triggering public anger and opposition’s criticism, President Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding."

Naira redesign to strengthen Nigeria's economy

Speaking further, Shehu said that the redesign of the naira by the Federal Government through the CBN will stabilize and strengthen the nation's economy.

He added:

“While taking note that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government will not leave them to their own fate.

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“He reiterated that a number of initiatives by the Central Bank and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.”

Naira redesign: Atiku wades in, drops his 2 cents on January 31 deadline in new video

Atiku Abubakar of the Peoples Democratic Party (PD) called on the governor of the Central Bank of Nigeria to extend the deadline for the collection of old naira notes.

The flag bearer of the PDP said that the new monetary policy has brought untold hardship on many Nigerians.

According to Atiku, an extension of the deadline will address the hardship faced by many Nigerians.

Atiku breathes fire, issues strong warning to Tinubu amid perceived dispute with Buhari

Atiku Abubakar of the PDP warned Bola Tinubu of the APC to desist from roping him into his crisis with President Buhari.

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The warning was issued by the former vice president through the Atiku/Okowa campaign organisation.

The spokesperson of the organisation said Tinubu's politics has always been about "self and the cabal" as he never cared for Nigerians or the success of the government he claimed to have brought to power.


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