The 2023 Central Bank of Nigeria (CBN) Naira redesign policy generated significant public debate in Nigeria, shifting from a purely monetary reform to a widely contested socio-political issue. While the policy was introduced to improve currency management, reduce cash-related crimes, and promote a cashless economy, public reactions suggested a growing disconnect between official objectives and citizens’ interpretations. This study therefore examined public perceptions of political motivation and economic consequences of the 2023 CBN Naira redesign policy in Nigeria. A descriptive survey research design was adopted. The population of the study comprised residents of Akwa Ibom State, estimated at 7.3 million while a sample size of 400 respondents was determined using Taro Yamane’s formula. Findings revealed that 64.3% of respondents perceived the policy as politically motivated, while 35.7% disagreed. Regarding economic objectives, 54.2% believed the policy aimed at controlling inflation, while 45.8% disagreed. On economic impact, 50.9% of respondents did not perceive the policy as beneficial, while 49.1% believed it was beneficial. Similarly, 50.1% considered the policy necessary, while 49.9% disagreed, indicating a highly polarized public opinion. The researchers conclude that the Naira redesign policy was largely interpreted through a political lens and that public perception of its economic value remains divided, reflecting weak consensus and communication gaps. The researchers recommend that the CBN should strengthen transparency, improve public engagement strategies, ensure clearer policy communication, and involve stakeholders early in monetary policy formulation to enhance trust and acceptance.