The federal government and the Central Bank of Nigeria (CBN) have defended the naira redesign policy, describing it as a move towards a cashless system and an effort to fight crime and terrorism.

Although Nigerians are suffering from the recent naira policy of the Muhammadu Buhari administration, many of the citizens still support the policy, an official has said.

Garba Shehu, President Buhari's spokesperson, said this in a statement sent to PREMIUM TIMES.

"As for the cashless system the CBN is determined to put in place, it is a known fact that many of the country's citizens who bear the brunt of the sufferings, surprisingly support the policy as they believe that the action would cut corruption, fight terrorism, build an environment of honesty and reinforce the incorruptible leadership of the President," Mr Shehu wrote.

The federal government and the Central Bank of Nigeria (CBN) have defended the naira redesign policy, describing it as a move towards a cashless system and an effort to fight crime and terrorism.

However, millions of Nigerians continue to suffer from the policy with many unable to obtain cash for their daily transactions.

Details later...