President Muhammadu Buhari said Saturday that he is aware poor Nigerians are ‘facing hardship’ due to the currency change policy of the government.

Mr Buhari said this in a statement by his spokesperson, Garba Shehu.

“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,” Mr Shehu stated.

PREMIUM TIMES has reported how millions of Nigerians find it difficult to access the new naira notes, a few dates to the 31 January deadline for the use of the old notes.

While many Nigerians have called for an extension of the deadline, Mr Buhari kept mum on any extension in his statement.

In his statement, Mr Shehu said the Buhari administration “will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly.”

Read Mr Shehu’s full statement below.
President Muhammadu Buhari Saturday assured 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 due to end shortly.

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 aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding. This, he assured, will 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 the distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.

Garba Shehu

Senior Special Assistant to the President