Abstract
This study examined the 2022-naira re-design on small and medium scale businesses focusing on Abakaliki metropolis city in Ebonyi State. The broad objective of the study is to generally evaluate the effect of 2022 naira re-design on profitability of small-scale business in Nigeria. On October 26, 2022, the CBN decision to redesign three-naira denominations was specifically aimed at fighting counterfeiting, strengthen the economy, reducing cash management costs, promoting financial inclusion, and improve the CBN's visibility of the money supply. Survey research design was adopted with questionnaires as data collection instrument. Analytically, the study employed simple percentages, frequency table and chisquare (x2) to test the hypotheses. The findings from the study showed that; the CBN cashless policy was widely accepted and adopted in Abakaliki metropolis as result by chi-square showed strong impact and significant in its adoption of the CBN naira re-design policy with the small-scale businesses saw it as fast and easy means of making money. The result from the study revealed that: Issuance of new-currency has significant effects on profitability of small and medium scale businesses in Abakaliki metropolis, withdrawal of old currency has significant effects on profitability of small and medium scale businesses in Abakaliki metropolis, restriction of daily withdrawal has significant effects on profitability of small and
medium scale business in Abakaliki metropolis. The study recommends among other things that; CBN should ensure availability and accessible of new currency note in order to promote the business of smallscale businesses in Nigeria. The policy of new naira note should be properly implemented to ensure overall benefit to the general public.