The new naira notes President Muhammadu Buhari revealed earlier today have drawn criticism from Nigerians for their appearance.
Nigerians on social media have remarked on the colors of the new notes, saying they resemble older notes of lower denominations and that this is another evidence of Nigeria’s declining currencies.
Twitter users have questioned the crux of the development while pointing out potential economic repercussions.
Here are some comments.
@RealOlaudah said, “What is the purpose of this change of color of our currency? What does it set out to achieve? As a student of economics, I’ve pondered over this with no avail. Are there any expert views on this? Is it an economic or political decision or both? What is the new Naira all about?”
@SirP004 said, “This is the worst design ever in the history of Nigeria currency…How can u change the bright colors to dull ones? All my thought was that the notes will be redesigned entirely not knowing that we are going to see color changes.”
@itsojbams tweeted, “By the way, how much was spent on this supposed Naira redesign? Let’s ask questions! Because this is a Photoshop exposure, contrast, and warmth editing and export that takes less than a minute!”
@victorchigbuU said, “He continued to let us know also that what 50 nairas can buy 10 years ago is exactly what 1000 can’t buy today. The legacy Godwin Emefiele the CBN Governor, MUHAMMADU BUHARI, and APC have achieved.”
@Don_Buayem noted, “Is either this government doesn’t know the difference between re-design and color changing or maybe they had printing error. Cos I don’t understand… What’s this??? The Naira notes can be like those olden days Notes. We go from full color to one (+black) color design.”
@Welbeast_ Said, “They just reduce the exposure and add small contrast, saturation, and vibrancy.. lastly the WARMTH is little high New Naira chaii.”
@PrinceEmmaM1 noted, “Just remove the blue and top it with yellow so we know we’re dealing with traffic lights standard”
Note: The Central Bank of Nigeria (CBN) launched a countdown clock showing when the old naira would stop being a legal tender.
The countdown clock is visible on the home page of the CBN’s website and it shows January 31, 2023, as the deadline for the N200, N500, and N1,000 notes to “remain legal tenders.”
