FORMER President Muhammadu Buhari has said that approving the naira redesign policy was a way to ensure his “integrity became unquestionable”.
The immediate past President stated this in an interview with NTA recently.
Recall that with Buhari’s approval, the Central Bank of Nigeria, under Governor Godwin Emefiele, announced its plans to redesign and circulate a new series of three banknotes out of the existing eight in October 2022.
The redesigned N200, N500, and N1000 notes were due for circulation on December 15, 2022, while the pre-existing notes would remain legal tender until January 31, 2023.
However, on November 23, 2022, Buhari unveiled the redesigned naira notes, which was earlier than scheduled. The move triggered nationwide chaos as cash became scarce before and during the general elections.
Speaking on the naira redesign policy in the interview, Buhari said the move was imperative to check those who had stashed ill-gotten money.
“Whether Nigerians believe it or not, we are an underdeveloped country. And in that sort of situation, there’s materialism, and sometimes ruthlessly, they didn’t care how they made the money.
“I still feel that the only way I could deprive these people was just to make sure that my integrity became unquestionable… I think as a developing country, we still have a long way to go.
“The motivation (for the policy) was to try and make Nigerians believe that there is no shortcut to successful leadership,” he said.
Buhari also said he is not sure he achieved all he had set out to achieve as Nigeria’s leader from 2015 to 2023, adding, however, that he does not miss being out of office.
