In the 2023 general election build-up, Tinibu and Emefiele clashed over implementing the new naira redesign policy that led to currency scarcity.
Emefiele was greeted with criticism for implementing the policy from Tinubu, the ruling party, businessmen, economic analysts and many other top stakeholders in the financial sector.
Reacting to the development, Tinubu said:
“The currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.
"The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender."
