A similar situation with Nigeria Naira when the government decided to print launch new Naira notes even in larger quantities of different denominations. A situation that led to the devaluation of the naira to the dollar from around #460 equally to $1 to about #2000 equalling to $1 between 2022 to 2023 (though currently it fluctuates between#1500/1600 to 1 USD). Leading to a hyperinflation in the country that till date people are still finding it difficult to navigate their way around to survive the harsh economic situations of increasing prices of goods/services the government's decision of printing excess new more notes caused.
Specifically to your instance of the Naira note, you had to look closer than what the government termed the course of changing the currency, it wasn't all what we thought it was, it was part of an agenda to go uncovered, let me not go deeper but it never benefit the economy, don't we use the old notes up till date?
If we think the government is there to sort out our complaints, then better stop the old thinking. Governments keep printing new notes so they have enough to bundle in a safe house, all part of the plan with massive inflation in the country.