Naira redesign: Real reason I approved CBN policy – Buhari apologizes

President Muhammadu Buhari has apologized to Nigerians over the naira redesign policy.

According to him, it wasn’t introduced to cause hardship, but to boost the economy.

In October 2022, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced the plan to redesign the N200, N500, and N1,000 notes.

The apex bank also said February 10 would be the deadline for the use of old naira notes and that resulted in a scarcity of the currency.

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

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