President Buhari got “false intelligence” from CBN, says Ajuri Ngelale 

Abuja—The senior special assistant to President Muhammadu Buhari on public affairs, Ajuri Ngelale, has faulted the implementation of the naira redesign policy by the Central Bank of Nigeria (CBN) led by Godwin Emefiele.

He also alleged that the apex bank led by its governor, Godwin Emefiele had failed to feed the president with the realities on the ground.

Speaking in an interview on TVC News, Ngelale said Nigeria is witnessing a period of displeasure in line with the faulty circulation of the new naira notes across the country.

He said: “At this point, it is obvious to everybody that the implementation of the naira redesign policy has been faulty, to say the least.

“We are witnessing massive amounts of discontent, we are seeing situations where our people are left camping outside overnight in ATMs hoping for the injection of new cash into those ATMs.

“We are seeing people on the streets boxing each other out trying to walk themselves through the doors of banking halls hoping to access the new naira notes.”

While stating that the intention behind the redesign of the naira notes has been good, Ngelale said its implementation has been a colossal failure.

He said that the naira redesign policy is a good one and well accepted according to Nigeria’s plan for a digital economy but the process has not been duly implemented in line with the laid out plan.

He added: “What we are working to do is to ensure that Mr. President is given effective and true information and the report that has been given by the Central Bank of Nigeria that they have adequately supplied all banking branches in Nigeria with a sufficient amount of the new naira notes is absolutely false.

It is evident at this point and of course, Mr. President being the pro-people defender of the masses… did the right thing when the intelligence reached him that he was getting false intelligence from the Central Bank and was to extend the deadline from January 31 to February 10.”

Nigerians have been urged to remain calm and patient with the transition of the phase of the new naira notes. The plea was made by the governor of the Central Bank of Nigeria, Godwin Emefiele, following the challenges faced by Nigerians in accessing the naira notes.

Godwin Emefiele said hiccups are always expected in situations like this but will surely be overcome.

Leave a Reply

Your email address will not be published. Required fields are marked *


It takes lots of money to inform, educate and entertain audiences, keep a watchful eye on the government as well as promote values that will benefit society through virile journalism.

We therefore request your modest donation to ensure that our news and other content remain freely available and accessible to all netizens.