Misspelling of "renege". Almost certainly formed by incorrectly identifying the root for the past tense (reneged) which is more common than the present tense. Renege means to fail to keep a commitment or promise.

to tell someone to calm down and relax.

to play the wrong suit to gain an advantage in cards

Slang abbreviation of the term renegotiate; to go back on or review a deal already finalized or closed.