Shades of the Naira notes

When the Federal Government through the Central Bank of Nigeria (CBN) announced that it would redesign the N200, N500, and N1,000 notes in order to take control of the currency in circulation, many Nigerians received the news with mixed feelings as they wondered what could have prompted the government to roll out such a policy at a time when citizens are groaning under the weight of biting economic hadship, insecurity and pockets of violence across the country.

It was observed that while the policy was embraced by some Nigerians, others simply knocked the CBN, saying the policy came at the wrong time. Some of them even posited that the move was part of Federal Government’s plan to control vote buying ahead of the 2023 elections.

But the apex bank in its defence said the policy was targeted at controlling currency in circulation as well as curb counterfeiting and ransom payment to kidnappers and terrorists.

It’s more ink, nothing new:

But as soon as the new naira notes were unveiled by President Muhammadu Buhari on Wednesday, many Nigerians didn’t spare words as they took social media platforms to share their displeasure over what they call a “mere change of colour” and not an actual redesigning of the naira notes as they were made to believe by the apex bank weeks before. For some of them, it is more ink on the old notes with no significant changes.

Some Nigerians who aired their views on social media platforms and shared different shades of the naira also shared videos of their version of what proper redesigned notes should look like.

A video shared by popular singer, Vector revealed that there was nothing special about what the government has done.

The video showed how the process could have been better handled and presented to Nigerians.

According to many Nigerians on social media, what the government did should not be called naira redesign but colour change. They accused the government of wasting money on a redesign that did not come out well.

From Instagram to Twitter and Facebook, reactions trailed the unveiling with many Nigerians trending #NairaRedesignChallenge where they uploaded the old naira notes and placed them beside the newly unveiled ones, saying the government has only succeeded in repainting the naira with blue ink.

Other Nigerian netizens also displayed pairs of personal photos, one with its original colour and the other edited to demonstrate what the CBN did to the money. Some Twitter users also submitted that CBN merely changed the colour, not the design and asked how much the apex body spent on its ‘redesigned’ naira.

A Twitter user with the name @feranmi said what the government has succeeded in doing is to add colour to the money as against what the CBN described as a redesigned naira, adding that nothing could be more shameful than celebrating what never existed in the first place.

“I am just wondering what this government takes Nigerians for because how can you just pour ink on naira notes and claimed that you have redesigned it and even dragged the President into the charade of shame. This is not redesigned; it’s colour change. All designs, font type and positions are the same. Please if am wrong, a professionally designer should correct me. All I can see is colour change.”

But some Nigerians however were unfazed about the Naira issue, saying they were not bothered about the policy to redesign the Naira. It is the prerogative of the government to do such, but that they were more concerned about having access to the new money when it is needed.

A tech expert who gave his name as Damilare Adeyemo shared on his Facebook page saying it is not about painting or printing more money, it is more about having access to the newly designed naira notes when it matters most.

According to him, the Federal Government should print sufficient notes for Nigerians who are not close to the corridors of power where they could have access to the money at the right time.

“Some of us have deposited our old naira notes and we are waiting for the new ones, so that we can continue to do our business and make money. Whatever the government decides to do with this policy is on them”, he added.

Another Instagram user who posted the old 1000 naira note beside the newly designed one on his page said, “These so called new notes are a misprint that came in magenta, wrong photo settings and they have produced billions and did not know how to get rid of the notes so they have to pretend it’s new and push it into the system period. What a fraudulent scam on Nigeria.”

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A Twitter user who gave his name as Olaniyi Kunmi said the same thing was done in 1983 during Buhari’s military era, noting that the president has not done anything new this time because that has always been his style. “I think the young people need to learn about history and their leaders. In 1984, Buhari did the same thing as the military head of state, as that was their plan to fight corruption back then. This time, it will surely help the poor conditions of the Nigerian People. God bless Nigeria!”

In his reaction, Senator Shehu Sani, a former federal lawmaker in a tweet said, “If it’s Naira colour, the CBN should have just engaged Snapchat.”

Also in his tweet, @femimore “If the aim of the redesigned will be achieved, I’m okay. But the new notes are not in any way better than the old ones from the pictorial views.”