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.
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.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, had said that her ministry was not consulted by the CBN on replacing the naira notes.
The CBN, however, fired back, stating that it followed due process.
The President, in a statement by his spokesman, Garba Shehu, said he did not consider the period of three months for the change to the new notes as being short.
READ ALSO: CBN: Naira redesign followed due process
”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.”
Buhari spoke 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
In the interview, the President also addressed issues of food security and national security, among others.
President Bola Tinubu has reiterated his commitment to repositioning the country and creating wealth for…
The Action Peoples Party (APP) has won 22 of the 23 chairmanship positions contested in…
The Federal Government has commenced the sale of crude oil and refined petroleum products in…
The Nigeria Union of Teachers (NUT) has condemned the shortage of teachers in primary and…
Manchester City were forced to come from behind to beat Fulham 3-2 at Etihad Stadium,…
Arsenal forward Bukayo Saka inspired the Gunners to victory over Southampton as they came from…
This website uses cookies.