Close Menu
  • Home
  • Politics
  • Entertainment
  • News
  • Interviews
  • Events
  • Fashion
  • Article
  • Lifestyle
  • Movies & TV
  • Music
What's Hot

African parents are dream killers – Billionaire businessman, Cosmas Maduka

Leakages, compromises, logistics challenges responsible for last week’s late night examination – WAEC tells Reps committee

Atiku, Amaechi, El-Rufai desperate for power – APC

Facebook X (Twitter) Instagram
  • Home
  • Politics
  • Entertainment
  • News
  • Interviews
  • Events
  • Fashion
  • Article
  • Lifestyle
  • Movies & TV
  • Music
Facebook X (Twitter) Instagram Pinterest
DAILY BLAST
Contact
HOT TOPICS
  • Home
  • Politics
  • Entertainment
  • News
  • Interviews
  • Events
  • Fashion
  • Article
  • Lifestyle
  • Movies & TV
  • Music
DAILY BLAST
You are at:Home»Breaking News»Naira redesign targeted at corrupt politicians & terrorism financiers, not poor Nigerians – Buhari
Breaking News

Naira redesign targeted at corrupt politicians & terrorism financiers, not poor Nigerians – Buhari

DailyblastBy DailyblastJanuary 28, 2023002 Mins Read
Share WhatsApp Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
Share
Facebook Twitter LinkedIn Pinterest Email WhatsApp Copy Link

President Muhammadu Buhari has said that efforts are being made to ensure that the new naira notes are distributed more widely.

According to Garba Shehu, the president’s spokesperson, the decision to redesign the naira was made to address corruption, terrorism financing and illicit fund hoarding.

Related posts:

  1. Peter Obi challenges the federal govt to name the financiers of terrorism
  2. Naira redesign will affect the poor, worsen inflation – World Bank
  3. Arrest politicians buying PVCs from poor Nigerians
  4. Central Bank have my approval to redesign Naira currency notes – Buhari

SaharaReporters had reported that a few days to the end of transacting with old N1000, N500 and N200 banknotes as a legal tender, commercial banks continued to load the old notes in their Automated Teller Machine (ATM) in parts of the country.

Also, the operators of Point of Sale (POS) particularly in the South-East and North-East states monitored continued to issue old banknotes to their customers, investigations by SaharaReporters showed.

While acknowledging reports of long lines at banks, Buhari stated that the Central Bank of Nigeria (CBN) was working on initiatives to “prevent chaos” surrounding the distribution of the new notes.

“President Muhammadu Buhari, Saturday assured that government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly,” the statement reads.

“Reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, triggering public anger and opposition’s criticism, President Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding.

“This, he assured, will stabilise and strengthen the economy.

“While taking note that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government will not leave them to their own fate.

“He reiterated that a number of initiatives by the Central Bank and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.”

Post Views: 179
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram WhatsApp Copy Link
Previous ArticleNaira redesign: CBN insists on Jan 31 deadline
Next Article INEC extends deadline for collection of PVC
Dailyblast

Related Posts

African parents are dream killers – Billionaire businessman, Cosmas Maduka

June 3, 2025

Leakages, compromises, logistics challenges responsible for last week’s late night examination – WAEC tells Reps committee

June 3, 2025

Atiku, Amaechi, El-Rufai desperate for power – APC

June 3, 2025
Add A Comment

Comments are closed.

Recent Posts
  • African parents are dream killers – Billionaire businessman, Cosmas Maduka June 3, 2025
  • Leakages, compromises, logistics challenges responsible for last week’s late night examination – WAEC tells Reps committee June 3, 2025
  • Atiku, Amaechi, El-Rufai desperate for power – APC June 3, 2025
  • Former Mr. Nigeria Deji Bakare presents “Èkó Stitch to Fame Nigeria,” an Exciting Tailoring Competition June 3, 2025
  • Linc Edochie’s new wife tackles Nigerians trolling her June 3, 2025
Top Posts

(Video) female prison officer filmed having sex with inmate in London prison

June 29, 20241,246 Views

UNN suspends lecturer for allegedly impregnating four students

February 17, 20253,095 Views

(Photos) Blood bath in Ihiala as gunmen kill billionaire businessman, seven others while preparing for mother’s burial

January 2, 2025615 Views
Latest Reviews
Most Popular

(Video) female prison officer filmed having sex with inmate in London prison

June 29, 20241,246 Views

UNN suspends lecturer for allegedly impregnating four students

February 17, 20253,095 Views

(Photos) Blood bath in Ihiala as gunmen kill billionaire businessman, seven others while preparing for mother’s burial

January 2, 2025615 Views
Our Picks

African parents are dream killers – Billionaire businessman, Cosmas Maduka

Leakages, compromises, logistics challenges responsible for last week’s late night examination – WAEC tells Reps committee

Atiku, Amaechi, El-Rufai desperate for power – APC

© 2025
  • Privacy Policy
  • Contact

Type above and press Enter to search. Press Esc to cancel.