President Muhammadu Buhari has said that the Central Bank of Nigeria (CBN), led by Godwin Emefiele, is working to ensure wide distribution of the new redesigned naira notes.

A statement signed by Garba Shehu, the presidential spokesman on Saturday, January 28, said that there is continuous improvement in the process of distributing the new banknotes by the main bank.

Shehu said the decision to redesign the naira notes was aimed at tackling the hoarding of illicit funds across the country.

President Buhari has assured Nigerians that the CBN is doing everything possible to ensure a smooth distribution of the new naira notes. Photo: Bashir Ahmad
Source: Twitter

Stating that the current administration is no stranger to long queues at banks for new notes, Shehu said the CBN is working to avoid any form of chaos throughout the process.

His words:

“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-be-finished currency swap.

“In reaction 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 changes were aimed at to the people who hoard illicit funds and not to the common man. , and which had become necessary to prevent counterfeiting, corruption and terrorist financing”.

Naira redesign to strengthen Nigerian economy

Speaking further, Shehu said that the redesign of the naira by the Federal Government through the CBN will stabilize and strengthen the nation’s economy.


“While noting that the poorest section of society faces difficulties 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 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.”

Naira Redesign: Atiku Comes In, Drops His 2 Cents On Jan 31 Deadline In New Video

Atiku Abubakar of the Peoples’ Democratic Party (PD) called on the governor of the Central Bank of Nigeria to extend the deadline for the collection of the old naira notes.

The PDP standard bearer said the new monetary policy has brought untold hardship to many Nigerians.

According to Atiku, an extension of the deadline will address the difficulties faced by many Nigerians.

Atiku breathes fire, issues a strong warning to Tinubu amid a perceived feud with Buhari

Atiku Abubakar of the PDP warned Bola Tinubu of the APC to desist from involving him in his crisis with President Buhari.

The warning was issued by the former vice president through the Atiku/Okowa campaign organization.

The organization’s spokesman said Tinubu’s politics have always been about “himself and the clique” as he never cared about Nigerians or the success of the government he claimed to have brought to power.