Assessment of Public Relations Strategies Adopted by the Central Bank of Nigeria in Managing the Naira Redesign Policy under Buhari’s Administration

Abstract

The study investigated the public relations strategies adopted by the Central Bank of Nigeria (CBN) during the implementation of the naira redesign policy under President Muhammadu Buhari’s administration. The objectives were to identify the PR strategies employed, evaluate their effectiveness, examine public perception, and determine the communication challenges encountered in the process. The study was anchored on the Excellence Theory of Public Relations,
which emphasises effective two-way communication between organisations and their publics. A survey research design was adopted, and data were collected using a structured questionnaire administered to 370 respondents drawn from relevant population categories through purposive and random sampling techniques. The data were analysed using descriptive statistical methods. Findings indicated that the CBN employed various public relations strategies, including press releases, social media campaigns, public enlightenment programmes, and limited community outreach initiatives. However, the results revealed that these strategies achieved only partial effectiveness, as many respondents were aware of the policy but perceived the communication to be unclear, untimely, and insufficiently participatory. Major communication challenges identified included misinformation, inadequate grassroots engagement, delayed feedback, and poor message clarity. The study concluded that, although the CBN made efforts to communicate the policy, the overall public relations approach lacked transparency, inclusiveness, and timeliness. It recommended the adoption of a more participatory and audience-centred communication framework to enhance stakeholder engagement and improve the management of future national policy initiatives.