PRESIDENT MUHAMMADU BUHARI SAYS NAIRA REDESIGN TARGETS CORRUPT PERSONS, TERROR FINANCIERS

President Muhammadu Buhari on Saturday, said the government’s currency swap is not meant to target innocent citizens but corrupt persons and terror financiers hoarding illicit monies. He also assured Nigerians that the government will ensure that they and their businesses will face no harm from disruptions caused to the entire supply chain arising from the currency swap.

According to a statement signed by the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, Buhari was reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones. The statement is titled ‘Government will eliminate squeeze, chaos in currency swap, President Buhari assures. Last November, the Central Bank announced that it will redesign the N200, N500 and N1000 notes of the Naira. It said the populace has until January 31, 2023, to return all old notes to commercial banks.

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