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President Buhari Sets Out Steps to Improve Distribution of New Naira Notes

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President Buhari affirms Support on CBN’s Naira redesign

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President Muhammadu Buhari has laid out several steps to ensure the successful distribution of the newly redesigned Nigeria naira notes.

In a statement released by his spokesperson, Garba Shehu, Buhari highlighted the need for new notes in order to combat illicit hoarding of funds, counterfeiting, and terrorist financing.

He also acknowledged reports of long queues at banks and stated that the Central Bank of Nigeria was working to prevent any chaos associated with exchanging old notes for new ones.

Also, he expressed that citizens should not be left alone in their plight due to the currency switch and offered reassurances that various initiatives were underway from both the CBN and commercial banks to faster the process.

Despite calls for an extension on the use of old notes beyond January 31st ,the CBN has maintained its deadline.

This article was updated 2 months ago

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