AN ANALYSIS OF EFFECTS OF NAIRA REDESIGN ON BUSINESS PERFORMANCE IN NIGERIA

Abstract

This study examines the effect of new currency design in, Nigeria. Using Dutse as a case The redesign of a country's currency holds the potential to influence various aspects of its economic landscape. The aim of this study is to, evaluate the impact of the naira new currency design on Nigerian SMEs’ performance, it used a survey design and primary sources for data collection. A total sample size of one hundred and fifteen (115) respondents were selected from the research population using the convenient sampling method, the findings show that the naira redesign has both negative and positive effect on the businesses in Nigeria as a whole. From the instrument used (questionnaire). Most of the businesses’ performance in terms of sales, production and contracts were affected negatively This study therefore recommended that. There should be Increase in exports of domestically manufactured goods and services to reduce the effect of the naira devaluation. And creation of enabling environment for business to strive, there should also be a development of sound monetary policy model.