Currency Redesign: Buhari Backs CBN Against Finance Minister

Written by on October 31, 2022

President Muhammadu Buhari on Sunday threw his weight behind the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high-value Naira notes, announcing his support for the move and his conviction that the nation will gain a lot by doing so.

This was revealed in a terse statement issued by Garba Shehu, Senior Special Assistant to the President (Media & Publicity).

The statement disclosed that Buhari gave the backing to the apex bank while speaking in a Hausa radio.

It is recalled that the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had last week told the Senate Committee on Finance, that she was not consulted over the decision by the CBN,

warning that the new notes could have dire consequences on the value of the Naira.


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