Citing an email from Florian to the ngIRCd mailing list:
"I wonder what the expected behaviour is when Conf_MorePrivacy is changed
from 'yes' to 'no' and the config is reloaded.
At the moment, WHOWAS will start giving out information on Users that
were connected during Conf_MorePrivacy=yes period. If this is not
wanted, Client_RegisterWhowas() should be changed to not store a record
when Conf_MorePrivacy is enabled."