President Muhammadu Buhari has assured that citizens will not be harmed in their businesses, stressing that no disruption will affect the entire supply chain arising from the currency swap due to end shortly.
The President gave the assurance while reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, a situation that has triggered 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, aimed at stabilising and strengthening 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 would not leave them to their own fate.
He said numerous initiatives by the Central Bank and all commercial banks were underway to speed up distribution of the new notes to forestall cash squeeze and chaos.
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