Muhammadu Buhari: Why I approved naira redesign policy

President Muhammadu Buhari of Nigeria has urged traditional leaders to persuade their subjects, especially young people, to refrain from any violent behaviour in the run-up to the 2023 elections.

President Muhammadu Buhari has issued an apology to the people of Nigeria over the hardship caused by the naira redesign policy.

He said that it wasn’t put in place to make life hard, but to help the economy.

In October 2022, Godwin Emefiele, who is in charge of the Central Bank of Nigeria (CBN), said that the N200, N500, and N1,000 notes would be redesigned.

The apex bank also said that old naira notes could no longer be used after February 10, which led to a shortage of the currency.

In a video clip posted on Twitter on Thursday by Uba Sani, the governorship candidate for the All Progressives Congress (APC) in Kaduna state, 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.”