A photo combination of Minister of Finance, Zainab Ahmed, President Muhammadu Buhari and CBN Governor, Godwin Emefiele.
By Our Reporter
President Muhammadu Buhari has waded into the crisis arising from the redesigning of naira notes between Finance Minister, Zainab Ahmed and the Central Bank Governor, Godwin Emefiele. The president said ‘he is fully in support of the Central Bank of Nigeria (CBN)’s move to redesign the naira notes’
The CBN had last week said it will redesign the N1,000, N500 and N200 notes, effective December 1, while the Minister of Finance said she was not consulted on the policy.
In a statement by the president’s media aide, Garba Shehu, the President said he is “convinced that the nation will gain a lot by doing so”.
Speaking in a Hausa radio interview with the famous journalist Halilu Ahmed Getso, and Kamaluddeen Sani Shawai to be aired Wednesday Morning on Tambari TV on Nilesat, President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from the reduction in inflation, currency counterfeiting and the excess cash in circulation,” Mr Shehu said on Sunday.
“He said he did not consider the period of three months for the change to the new notes as being short.
”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all.”
