Nigerians Criticize CBN Plans To Redesign Naira Notes

Posted by Nwa Diokpa Exclusive Reports, Exclusive/Investigative Stories, Featured, Latest Headlines, News Across Nigeria Wednesday, October 26th, 2022

(AFRICAN EXAMINER) – The news that Governor of the Central Bank, Godwin Emefiele, has stated that the apex bank will be redesigning 200, 500, 1,000 naira notes has sparked social media reactions.

African Examiner captures some of the thoughts of Nigerians on the issue as seen on Twitter.

@firstladyship writes: “Godwin Emefiele destroyed the Naira. However, redesigning the N200, N500 & N1,000 notes will force politicians to either spend their Naira hidden in houses & septic tanks, or bank them by force. CBN Governor got the policy right. But the Naira is N752, so he is still a saboteur.

@onyema007 writes: “I feel this people want to use this method to make the money or ramsom given to bandit useless.”

@LegacyNgLimited writes: “Most big businessmen I know have converted ALL their Naira savings to USD.”

Eyen Idarauwem writes: “Na lie o. Redesigning the naira at this time adds further strain on our already strained economy. You can rest assured that nobody is stacking up a fastly depreciating naira anywhere.”

@Amazirostanley writes: “Like i said earlier, it is a sad day for looters. Return huge sum of money ad explain how you got it. Buhari knows how to play ball.”

@iam_europepikin writes: “ It is not return and explain, it is spend it during the election… Apc already have enough looted funds for vote buying. And our dear Agbado master definitely has enough (bullion van).”

@Sochicity123 writes: “This gonna put pressure on Naira because there will be pressure to convert the stored Naira to dollars.