Nigeria’s President, Bola Tinubu has promised to review the CBN policies as regards the Naira redesign by the CBN.
If we can recall, the Naira design policy caused a lot of hardship for Nigerians, after the old #500 and #1000 notes temporarily lost their legal tender.
According to the new President, the currency swap was too intolerant to Nigerians, as the policy was not properly reviewed before being approved.
He, therefore, avowed that the policy would be reviewed, but until then, both notes would continue to coexist together.
Prior to Tinubu’s speech, the CBN had declared that the old notes would loose it’s legal tender from December 31st 2023.
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Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Currently in her penultimate year pursuing a degree in law at the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.