‘It changes nothing.’ Nigerians unimpressed with redesigned banknotes
Nigerians have rejected the new banknote with a presidential election logo, in the latest sign of disappointment with the currency reform project.
In a survey of 2,000 Nigerians conducted by Gallup Nigeria between August and September, 79.4% of respondents said they disliked the new banknote with the new presidential election logo, and only 2.8% said they liked it.
The new banknote is a response to concerns surrounding the previous versions. A new version with the design of the new presidential election logo was presented to the president and his wife after the September 8 election results were confirmed.
The previous banknotes, which featured monarchs, lions and elephants or the presidential election logo had caused problems for the new currency as some people refused to use them or could not tell them apart from the new currency.
The new banknote also had to overcome a problem that was raised by many Nigerians at the time of the transition to a new currency, as the new currency’s exchange rate with foreign currencies was not always stable.
Some Nigerians complained that the new Bank of Nigeria did not sufficiently consult with them and there were concerns that their money would be destroyed during banknote depredation, among other things.
While the new banknote was welcomed by many Nigerians, particularly those who did not want to use the previous currency, it has drawn criticism from critics who say the decision was a political decision.
Critics contend that the new banknotes are in bad taste and are offensive to many Nigerians, especially the young.
In response to the criticism, the country’s finance minister, who was also in charge of currency reform, said that the decision was “based on consultation”, and it was necessary for the government to consult Nigerians before they made important policies.
He also said that he did not know how the decision was made, but he said that he regretted the decision, but he did not know what