CBN Deadline: Atiku Makes U-turn on Naira Redesign Policy

CBN Deadline: Atiku Makes U-turn on Naira Redesign Policy

  • Atiku Abubakar has lamented that the naira redesign policy is putting Nigerians through so much pain
  • The PDP's presidential candidate made this submission on Tuesday, February 7, some days after supporting the initiative
  • Atiku noted that the policy had plunged businesses across the country into distress as he pleaded with the Buhari-led government to act fast

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Days after lending his full support to the naira redesign policy of the Central Bank of Nigeria (CBN), Atiku Abubakar has given a new position on the issue.

In what seems like a U-turn on Tuesday, February 7, the Peoples Democratic Party presidential candidate admitted that the CBN's initiative has brought about “serious distress for businesses and cash-dependent smallholder enterprises,” The Punch reports.

Atiku, CBN, Buhari
Atiku said the CBN's policy is putting Nigerians through pain (Photo: @atiku, @cenbank)
Source: Twitter

Atiku, therefore, pleaded with the President Buhari-led government not to make Nigerians scapegoats in what he referred to as an “ongoing battle of titans over the redesign of the naira.”

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Stating that the development should be addressed urgently, Atiku noted that he had earlier urged the federal government and the CBN to consider adjusting the deadline in consideration of the ordeals citizens are going through, PM News reports.

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According to Atiku:

“Millions of Nigerians are being driven into grave desperation and despondency on account of the shortcomings of the execution of the policy.
“In recent weeks, social tension has been growing across Nigeria on account of the poor management of the redesign of the naira policy."

Naira notes scarcity: Finally Atiku reacts, gives CBN advisory hint

The presidential candidate of the Peoples Democratic Party urged the Central Bank of Nigeria(CBN) to ease Nigerians off the hardship of getting the new naira notes.

Atiku made this appeal via a statement issued on Wednesday, February 1, by his campaign office.

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He, however, lauded the CBN for heeding the appeals of Nigerians to give an extension to the deadline for the exchange of the old naira notes for the new ones.

As reported by a local media house, he appealed to the apex bank to carry out a review to curb the current scrabble and hassle for the new naira notes across the 36 states of the federation.


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