Allow Old, New Naira Notes Co-exist – Council Of State Tells Buhari, CBN Governor
The Council of State meeting, presided over by President Muhammadu Buhari, on Friday, has urged the the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele, to make new Naira notes available or recirculate the old notes to ease the suffering of Nigerians.
During the hybrid meeting which lasted for over four hours at the Council Chambers, Presidential Villa, Abuja, the attendees at the state meeting gave their support to the naira redesign policy.
In attendance were former heads of state and president Gen. Yakubu Gowon (retd), Gen. Abdulsalami Abubakar (retd) and Goodluck Jonathan, while former President, Olusegun Obasanjo, joined the meeting online.
Two former Chief Justice of the Federation, Alfa Belgore and Mahmud Muhammad, were also in attendance.
Jointly briefing State House correspondents at the end of the meeting, Governors of Taraba, Darius Ishaku , Lagos, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, AGF Abubakar Malami, said generally the policy was accepted by members but raised concerns about the implementations.
Ishaku said, “The CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor.”
Sanwo-Olu, on his part said that Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, and Inspector General of Police (IGP), briefed the council on a state of preparedness for the 2023 general elections, and assured that they were fully prepared.
The Minister of Justice and Attorney-General of the Federation, Abubakar Malami, said the council received briefing from the chairman of INEC, the IGP and the CBN governor.
“The two major resolutions that were driven, arriving from the deliberations of the Council, are one, that we are on course as far as election is concerned and we are happy with the level of preparation by INEC and the institutions.
“Two, relating to the naira re-designed policy, the policy stands, but then the Council agreed that there is need for aggressive action on the part of the Central Bank, as it relates to the implementation of the policy by way of ensuring adequate provision being made with regard to the supply of the naira in the system,” the AGF said