NAIRA REDESIGN POLICY AND PUBLIC PERCEPTION OF GOVERNMENT IN ESAN CENTRAL LOCAL GOVERNMENT AREA

The study seeks to examine the naira redesign policy and public perception of government in Esan Central Local Government Area in 2023. The study objectives were to ascertain public perceptions towards the reasons for naira redesign in Esan Central Local Government Area, to investigate the impact of naira redesign in 2023 on the perception of the public in Esan Central Local Government Area and to examine the challenges faced by the public in Esan Central Local Government Area as a result of the naira redesign policy in 2023. The research design employed for this research is survey research method. This methodology enables the researcher to elicit responses from the respondents through the administration of questionnaires. Consequently, the data collected was collated and quantitatively analyzed. The population of this study comprises the total number of both adult male and female in Esan Central Local Government Area which is projected at 339,899 according to the National Population Commission (2023). Based on the Taro Yamane formula the sample size for the study is 399.5 which is approximated 400. The field survey employed the use of simple random sampling technique. The study observed amongst others that; there was large circulation of fake Naira note which led to the redesigning of Naira notes, the study also noticed that, money laundering was the major factor that led to the redesigning of Naira. Also, the study observed that, Jobs were lost during the period of change in the Naira note. Furthermore, the study recommended amongst others that Central Bank of Nigeria (CBN) should ensure an adequate supply of the redesigned currency to avoid shortages and facilitate a smooth transition.