What CBN's naira redesign policy caused Nigerians, the economic implication

  • The naira redesign policy of the CBN under former Governor Godwin Emefiele threatened Nigeria’s economic survival
  • The CBN had revealed in a press conference that it would redesign N200, N500 and N1,000 notes
  • The policy led to painful naira scarcity that caused significant setbacks in the economy

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

On October 26, 2022, the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, jolted many Nigerians with a new policy announcement that would turn Nigeria on its head.