Print More Money Or Allow Co-Circulation, Council Of State Urges Buhari
Written by Olarotimi Oshin on February 11, 2023
The Council of State has advised President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN) to print more redesigned naira notes or allow the new and old banknotes to circulate concurrently to ease the tension caused by the scarcity of cash.
Briefing State House Correspondents after the Council meeting chaired by the President, the Attorney General of the Federal, Abubakar Malami, who was flanked by Governor Darius Ishaku of Taraba State and Governor Babajide Sanwo-Olu of Lagos State, said that the Council illuminated the need for aggressive action by the CBN to ensure adequate supply of the naira in the system for proper implementation of the policy.
Echoing submissions by the Council, Governor Ishaku stated that it proffered a number of suggestions to the President, particularly on the currency swap challenge which dominated discussions, following a debriefing from the CBN Governor Godwin Emefiele, and expressed the hope Buhari will make a decision soon