President Buhari Speaks On Naira Redesign Policy After Tinubu’s Victory

President Muhammadu Buhari explained the rationale behind the introduction of the naira redesign program on Thursday.

The President apologized to Nigerians and claimed the policy wasn’t implemented to make life difficult there.

President Buhari began this a few hours after Bola Tinubu of the All Progressives Congress (APC) was named the winner of the election.

There were allegations that the policy was put in place to prevent Tinubu from realizing his desire to run for president.

Recall that the N200, N500, and N1,000 notes will be replaced in October 2022, as announced by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The usage of old naira notes, which caused the currency to become scarce, was prohibited as of February 10 by the apex bank.

The governorship candidate for the All Progressives Congress (APC) in Kaduna, Uba, shared a video of President Buhari explaining the purpose of the program on Twitter.

He said, “I apologize to you for the hardship caused by the change in the naira. It was done to boost the economy of the country, not to cause hardship to anybody.”

The president also called on residents of Kaduna State to vote for Sani as the governor of the state.

Buhari said, “First of all, I want to once again thank you for the confidence you have in me by electing me president on the platform of our party, the APC.

“I want to use this opportunity to inform you that Uba Sani is our candidate for the governorship election in Kaduna state. I am begging you to vote for him and all APC candidates for the house of assembly to help him work.

“Uba is a leading member of this journey. We worked together in the senate and he demonstrated capacity and competence. He will perform better than expected.

“Kaduna is home to me. Therefore, I urge you to vote for Uba Sani and all our APC candidates for the state assembly.”