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General News of Saturday, 4 March 2023


President Buhari apologizes over naira redesign policy says It wasn’t meant to cause hardship

President Muhammadu Buhari President Muhammadu Buhari

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

According to him, the policy was not introduced to cause hardship on the citizens.

In October 2022, the President and the Central Bank Governor, Godwin Emefiele, announced the plan to redesign the N200, N500 and N1000 notes.

This policy however, caused a scarcity of Naira in February after the deadline for the swapping of the old notes for the new notes expired.

Oh Thursday, February 2, President Buhari stated that the naira redesign policy was instituted to boost the economy.

He 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.”