President Muhammadu Buhari has planned a national broadcast to be held on Thursday, February 16, at 7:00 a.m.

The broadcast is expected to centre on the raging naira crisis that has gripped the nation, making life difficult for citizens who are unable to access the cash needed for everyday transactions. 

Spokesman Femi Adesina on Wednesday urged media outlets across the country to follow the announcement via the Nigerian Television Authority (NTA) and Radio Nigeria for the broadcast. 

The so-called naira swap policy announced by the Central Bank of Nigeria in October 2022 has left the country in chaos as citizens are being forced to return existing naira notes for new ones that have been scarcely available at banks across the country.

The Supreme Court weighed in on the crisis earlier this month, saying the policy should be suspended until a substantive judicial pronouncement has been made on the matter. Mr Buhari, who authorised the currency change, has declined to obey the Supreme Court order. His announcement on Thursday is expected to clarify whether or not he would continue to flout the top court order or back down.