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He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria and apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy. President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with new N200, N500
NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE |
Full statement of President Muhammadu Buhari on currency swap and the state of the nation on 16 February 2023
My Dear Compatriots, I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.
The Nigerian leader defends the government's currency redesign policy but admits it is causing difficulties.