President Muhammadu Buhari has 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 on Saturday 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.’
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, Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man.
He said the changes had become necessary to prevent counterfeits, corruption, and terrorist funding and also to stabilize 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,” the statement read in part.
Recall that the All Progressives Congress Presidential candidate, Bola Tinubu, last Wednesday alleged that the currency change was among plans to sabotage the February election.
Tinubu cited the lingering fuel crisis and naira redesign by the Central Bank of Nigeria as part of the plot to scuttle the poll and his expected victory.