President Muhammadu Buhari has given assurance 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.
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 targeted at hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding.
This, he assured, would stabilise and strengthen the economy.
While taking note that the poorest section of the society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government would not leave them to their own fate.
He reiterated that a number of initiatives by the Central Bank and all commercial banks were underway to speed up distribution of the new notes to forestall cash squeeze and chaos.