RUMOUR, POLICY COMMUNICATION AND CRISIS MANAGEMENT IN THE 2022 CURRENCY REDESIGN SAGA IN NIGERIA

The 2022 currency redesign policy introduced by the Central Bank of Nigeria generated widespread public concern owing to the disruptions that accompanied its implementation. Previous studies has addressed policy communication in monetary reforms and the dynamics of rumour spread during periods of public uncertainty, yet there are scanty attention paid to the 2022 currency redesign saga in Nigeria. However, gaps in communication created conditions that encouraged rumour circulation and information disorder, yet this specific linkage remains underexplored. This study examines how communication lapses during the 2022 currency redesign contributed to rumour proliferation and shaped public response with a view to analyse gaps, analyse patterns of rumour spread, and assess their implications for managing the crisis arising from the policy. The study is anchored on Situational Crisis Communication Theory and Rumour Transmission Theory. Adopting a qualitative research design, the study employs content and discourse analysis of a purposively selected and relevant sample of 30 news reports, 120 social media posts from platforms such as X, Facebook and Instagram, and 15 official statements issued between November 2022 and March 2023 by the Central Bank of Nigeria and the Presidency. Findings from this analysis are used to address the study objectives by showing that delays, ambiguities and inconsistencies in policy communication fostered misinformation, heightened public anxiety and undermined trust in institutional responses, highlighting the critical role of timely and coherent policy communication in crisis management.