Buhari To Make National Broadcast Amid Naira Notes’ Scarcity

• The CBN introduced a naira redesign policy last December.

• The policy, backed by the president, has been questionably implemented as millions of Nigerians have struggled to access naira notes.

• The president recently promised a major decision on the scarcity “in seven days” but time went by as he kept mute.

Eko Hot Blog reports that President Muhammadu Buhari is set to address Nigerians Thursday morning.

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His Special Assistant on Digital Communications, Bashir Ahmad, made the disclosure in a tweet late Wednesday night.

Ahmad said the national broadcast will be made at 7am.

“President Muhammadu Buhari will make a national broadcast tomorrow, February 16, 2023 at 7 am,” he tweeted.

“Television, radio stations and other electronic media outlets are enjoined to hook up to the network services of the NTA and Radio Nigeria for the broadcast.”

Although Ahmad did not say the purpose of the national broadcast, it may be connected to the scarcity of naira notes as a result of questionable implementation of the naira redesign policy of the Central Bank of Nigeria (CBN).

The CBN has started to reject the old N200, N500, and N1000 notes as legal tender despite a Supreme Court order restraining the apex bank from implementing its February 10 deadline.

FURTHER READING

• Possible Respite For Nigerians As Buhari Mulls Extending Validity Of Old Naira Notes – Report

• Lagos Govt To Prosecute Anyone Rejecting Old Naira Notes – Sanwo-Olu

• El-Rufai Gives Reasons For Rejecting Buhari’s Proposal To Extend Deadline For Old Naira Notes

On Wednesday, a senior government official told TheCable that the president is considering an extension of the validity of the old naira notes to relieve the hardship Nigerians are experiencing.

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