By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Tinubu: Cash Scarcity During Naira Redesign Nearly Made Me Quit Presidential Race
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Tinubu: Cash Scarcity During Naira Redesign Nearly Made Me Quit Presidential Race

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: March 30, 2025
Share
3 Min Read
SHARE

President Bola Tinubu has revealed that the naira redesign policy and the resultant cash scarcity during the 2023 election campaign almost made him abandon his presidential ambition.

Okay.ng reports that the president made the disclosure on Saturday during a special Iftar held at the presidential villa in Abuja.

Recalling a tense moment during the campaign, Tinubu said a close relative visited him in the early hours of the morning, lamenting the harsh impact of the cash crunch on ordinary Nigerians and questioning his motivation for running for president.

“Those close to me know that the odds were against me. During the campaigns, one of them came to my living room around 3:30am and said he needed just N50,000 to buy foodstuff for our uncle,” Tinubu narrated.

“He told me, ‘The currency is gone because of you. People are jumping over bank counters because there is no cash. Our uncle, a wealthy man, doesn’t even have N10,000 in cash. What are you running for?’”

“I told him, ‘I am running for President, not for you and our uncle.’ I gave him the N50,000. As he walked out, he turned to me and said, ‘I don’t think you will make it.’ I replied, ‘I will make it.’”

The president recounted how his uncle later confirmed receiving only N10,000 from the cash, leaving him bewildered.

- Advertisement -

“At that moment, I almost dropped the idea of running for president. But thanks to Aminu Masari and all of you who encouraged me. When I came to Abuja, Masari told me, ‘I am the chairman of the north-west group; don’t look back,’” he said.

Tinubu also reflected on the critical decision to remove fuel subsidy on his first day in office, saying it was a tough but necessary move.

“On the day of my inauguration, I had to decide on something not originally in my speech, and that was the fuel subsidy removal,” he stated.

“The hallmark of a great leader is the ability to make the right decision at the right time. That was the day I declared that the subsidy was gone.”

“The following day, I was hounded and thoroughly abused in the media. But I stood firm, knowing it was the right thing to do for our nation’s future.”

The naira redesign policy under former President Muhammadu Buhari’s administration, which led to acute cash scarcity, was widely criticized for hurting small businesses and daily economic activities.

Tinubu was among the prominent voices at the time who opposed the timing and implementation of the policy, viewing it as a politically motivated move.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Naira redesigntinubu
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article OP-ED: Nonye Ayeni, NEPC’s impressive 2024 and Q1 2025 performance by Toni Kan
Next Article President Tinubu Hosts Eid-El-Fitr Homage at State House

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
Ange Postecoglou
Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory
Sport
Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President
News
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users
Tech
- Advertisement -
Ad imageAd image

You May Also Like

News

President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
International

Elon Musk’s Net Worth Plummets $34 Billion Amid Explosive Feud with Donald Trump

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
PoliticsTop stories

BREAKING: Akwa Ibom Governor Pastor Umo Eno Defects from PDP to APC in Strategic Political Shift

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?