Buhari Support Emefiele’s Decision To Redesign Naira Notes
President Muhammadu Buhari has declared support for CBN Governor over redesign of naira notes.
Naijanewshub.com.ng reports that 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.
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.
Recall that there has been some controversies over the decision to redesign the naira notes.
While the Minister of Finance, Budget and National Planning, Zaniab Ahmed had stated that her ministry was not aware of the decision to redesign the naira notes, the CBN had said it didn’t need the authorisation of Finance Ministry to redesign the country’s currency.