THE IMPACT OF NAIRA REDESIGN ON THE NIGERIAN ECONOMY

ABSTRACT The aim of the study is to investigate the impact of naira redesign on Nigeria economic development. In order to ensure reliability of source of data this was to ensure that questions were simple and understandable so that ambiguity of answers will be avoided. The research used simple percentage to make the data obtained very simple to analyze and to make the information presented in a way that it will clearly be understood. The research instrument was the questionnaire which was designed in a simple and unambiguous word and relevant questions were asked. The data collected for this study were first grouped according as response and presented using percentage and tables for presentation aid and analysis. Simple percentages were used in the presentation of some aspects of the data collected. In conclusion, the study revealed that the real intentions of CBN for redesigning the naira were a complete debacle. The reason was that the policy threw out the baby with the bath water and made innocent Nigerians scapegoats. Though some currency notes were redesigned and swapped, they were not in circulation, as it had been in the history of currency redesign in the country. The result of the scarcity of the redesigned notes was general hardship. The survey also demonstrated that Nigerian citizens never resorted to the mainstream media as they did to interpersonal and social media platforms. At the end of this research, the researcher recommends the following; Mass media, especially the mainstream platforms, should fight to regain their usual enviable lost position in the minds of the public, Media professionals should, against all odds (including political and economic considerations) go about their constitutional responsibilities, as and when due Federal Government should always avoid making policies to suit those in power against the citizens. There shouldn't be politics in policies. Key words:Naira redesign, Economic development: