Well, according to Nigerian government the cash claw back was to take place after redesign of the naira notes. The redesign of the naira notes was basically for 2 reasons: 1. To reduce corruption and 2. To prevent politicians from using cash to influence the 2023 Nigeria general elections which would take place on the 25th Feb.

Unfortunately after the cash claw back (about 1.5 trillion naira) by the nation's population which was still ongoing, only about few billion of naira was redistributed to the population, this led to closure of financial institutions, businesses, fuel scarcity, limited cash transfer (digitally) and delay of cash transfer from one person to another since it is centralized, people not going to work etc.

Shocking this shortage of cash flow was because politicians bought the new naira notes from these financial institutions i.e a million naira been bought @ 2 million or 1.5 million naira. For the common man you could get a 1.k naira @ 1.5k naira which depends on your negotiation with the money vendors. Since there was shortage of cash flow which led to hunger and stunted the activities of the average Nigerians, Politicians now were using the new naira notes to buy their votes from the most vulnerable population.

Although some politicians were not successful since they were caught by economic crime agencies.

Just gave you a bit of the situation I can't really be so detailed. Writing an article which I will share the link here.