President Muhammadu Buhari on Sunday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so.
Prompt News Online reports that CBN Governor Godwin Emefiele, recently announced plan to redesign Naira Notes, adding that new Notes would be in circulation from December 15, 2022.
But, a couple of days later, Minister of Finance , Mrs Zainab Ahmed, told lawmakers at the National Assembly that she was not aware of plans to redesign the Naira Notes, saying the CBN did not consult the ministry.
However, 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 reduction in inflation, currency counterfeiting and the excess cash in circulation.
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.”
In the interview, the President also addressed issues of food security and national security, among others.
