Abstract
This study examined the 2023 Naira redesign policy and economic hardship in Nigeria, using Anaocha Local Government Area of Anambra State as a focal point. The study aims to explore the consequences of the currency redesign policy on the local economy and the challenges faced by residents in Anambra State, by employing qualitative research methods such as questionnaires. The study seeks to identify the factors contributing to economic hardship and propose potential solution to alleviate the situation. The researcher raised two research question, using the population of 400 respondents, the survey research design was employed in carrying out the study and questionnaire and survey used as research instrument. The finding of this research will contribute to a broader understanding of how the implementation of new Naira policy brought economic hardship and impacted business negatively. In conclusion, the researcher among other recommendations advised that traders in the informal sector should open a functional bank account and acquire knowledge about transfers and internet banking, that the ban on old currency should not be enforced within a short period of time and that the federal government should put in place, all logistics needed for the printing and circulation of the new currency before enforcing the deadline on old Naira notes. This recommendation became very important in the wake of the present technological era where youths can just click on their phones and get connected.