President Muhammadu Buhari on Thursday revealed why the naira redesign policy was introduced.
The President who apologized to Nigerians said the policy was not introduced to cause hardship in the country.
President Buhari started this hours after the All Progressives Congress (APC) presidential candidate, Bola Tinubu was declared president-elect.
There had been claims that the policy was introduced to hinder Tinubu from actualizing his presidential ambition.
Recall that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele in October 2022 announced the plan to redesign the N200, N500, and N1,000 notes.
The apex bank fixed February 10 as the deadline for the use of old naira notes which led to the scarcity of the currency.
President Buhari in a video clip posted on Twitter by the governorship candidate of the All Progressives Congress (APC) in Kaduna, Uba said the policy was meant to boost the economy.
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.”
