President Muhammadu Buhari He said on Saturday that he is aware that poor Nigerians are “facing hardship” because of the government’s currency exchange policy.
Buhari said this in a statement from his spokesman, Garba Shehu.
“While noting that the poorest section of society faces hardship as they often keep cash at home for various expenses, President Buhari strongly assured that the government will not leave them to their own devices,” he said. Mr. Shehu.
PREMIUM TIMES has reported how millions of Nigerians are finding it difficult to access the new naira notes, just before the January 31 deadline for the use of the old notes.
While many Nigerians have called for an extension to the deadline, Mr. Buhari was silent on any extension in his statement.
In his statement, Shehu said that the Buhari administration “will make sure that citizens get out of business unscathed and that there are no disruptions to the entire supply chain stemming from the soon-to-be-finished currency exchange.”
Read Mr. Shehu’s full statement below.
President Muhammadu Buhari assured on Saturday that the government will ensure that citizens will not suffer damage to their businesses and that there will be no disruption to the entire supply chain stemming from the soon-to-end currency swap.
Reacting to reports of long lines of people waiting for hours for their turn to deposit old notes and get new ones, sparking public anger and criticism from the opposition, President Buhari reiterated that the currency exchanges were meant to people who hoard illicit funds and not the common man. and that it had become necessary to prevent counterfeiting, corruption and terrorist financing. This, he assured him, will stabilize and strengthen the economy.
While noting that the poorest section of society faces hardship as they often keep cash at home for various expenses, President Buhari strongly assured that the government will not leave them to their own devices.
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He reiterated that a series of initiatives by the Central Bank and all commercial banks are underway to speed up the distribution of the new banknotes and do everything necessary to avoid cash shortages and chaos.
Garba Shehu
Senior Special Assistant to the President
(Media and advertising)
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