Kwankwaso says naira redesign policy a mistake, vows to reverse it

The New Nigeria Peoples Party (NNPP) presidential candidate Rabiu Kwankwaso has said that the Central Bank of Nigeria (CBN) Naira Redesign Policy will be revised if he is elected on February 25, 2023.

According to Kwankwaso, the people that were targeted with the Naira redesign policy were not affected because they own the commercial banks.

He described the monetary policy as a mistake, because the poor are bearing the brunt of the Naira redesign, not the intended target of the financial regulator.

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“The people whom the government thought would suffer the policy actually own the banks,” Kwankwaso said during an interview with Channels TV on Friday evening.

“We did not support the idea of currency redesign at this critical time. We support cashless policy but the timing is wrong,” he noted.

Also, the former Minister of Defence said he will ensure that the old N200, N500, and N1, 000 banknotes remain legal for people to deposit in the banks

“Should I win (the presidential) election, we will allow every Nigerian who legally earned his money to come and exchange it with new banknotes,” he added.










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