CASHLESS POLICY: Analyst rejects Buhari’s order for release of only old N200 notes
President Muhammadu Buhari, Nigerian President

An analyst, Abraham Wubang has opposed President Muhammadu Buhari order to the CBN to release the old 200 naira notes back to circulation to alleviate the hardship experienced by Nigerians due to the faulty implementation of the cashless policy of the apex bank.


Mr. Wubang while commenting on Buhari’s national broadcast addressing the hardship posed by the CBN cashless policy said the CBN should allow Nigerians to use all the currencies pending the proper planning and implementation of the cashless policy.


He said, “With this situation we are now, is it not enough for them to come out and say let the old and the new monies be used until all these things are normalized? What are they saying, they are talking about corruption? He said he is using the redesign currency to fight corruption, is that what we were promised? That is all politics.”


He said the CBN should allow Nigerians to have access to their hard earned monies.


“Of course people will protest. They said, a hungry man is an angry man. You don’t expect me to have my monies in the bank and I cannot have access to my monies. The one I suffered to get. Let them allow us to use the little that we have. We can have access to the little we have,” he said.


President Muhammadu Buhari has said the cashless/naira redesign policies of the CBN “represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections as it is reducing the influence of money in Nigerian politics. He however, admit the hardship posed by the policy and has directed that the old 200 naira notes by released back to circulation to ameliorate the hardship faced by Nigerians.  

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