‘I’m Deeply Pained’ – Buhari Apologises To Nigerians Over Naira Scarcity

President Muhammadu Buhari has apologized to Nigerians for the pain and suffering experienced in the implementation of the naira redesign policy.

Naija News reports that the President gave the apology in a nationwide broadcast on Thursday, amid the new naira scarcity and protests across the country.

Buhari sympathizes with Nigerians on the implementation of the monetary policy of the Central Bank of Nigeria (CBN), saying that he is deeply pained by the hardship caused by the policy.

The President also claimed that unscrupulous bank officials are allegedly sabotaging the implementation of the naira redesign policy.

He, therefore, directed the CBN to collaborate with security agencies to arrest and prosecute those sabotaging the implementation of the monetary policy.

He said: “I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.

“Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening the loopholes associated with money laundering.

“Let me re-assure Nigerians, that strengthening our economy, enhancing security, and blockage of leakages associated with illicit financial flows remain a top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.

“Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you of a few critical points underpinning the policy decision.

“I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

“To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through the availability of the appropriate amount of currency; and ability to make deposits.

“I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.”