LATEST ON NAIRA NOTE DEADLINE… PEOPLE ARE FREE TO USE OLD NOTES AS CBN HAS BEEN DIRECTED TO PRINT MORE NEW NOTES OR RECIRCULATE OLD ONES

Shina J.O : Publisher

11/02/23

Council of State welcomes naira redesign policy, advises CBN to print more notes or make old ones available.

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The Nigerian Council of State has advised the Central bank of Nigeria to make the redesign Naira notes available or recirculate old notes to ease the suffering of Nigerians.

This was one of major resolutions reached on Friday during the hybrid meeting of the council chaired by President Muhammadu buhari at the Presidential Villa Abuja.

The meeting was attended by 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 virtually.

Briefing State House Correspondents at the end of the meeting were Governors of Taraba, Darius Ishaku , Lagos, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, Abubakar Malami,

They said that the the policy was accepted by council 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.”.

According to Malami on the Naira redesign policy, it stands but then the council agreed that there is need for aggressive action on the part of the CBN as it relates to the implementation of the policy by way of ensuring adequate provision being made with particular regard to the supply of the Naira in the system.”

Concerning the Supreme court Judgement on the deadline of the redesign note, Malami explained that the matter is in court, but said both parties are still open to amicable resolution of the matter.

Mean while many Residents across the Country have been filled with anxiety as most were unsure of the state of the old naira notes, as the deadline by the Central bank of Nigeria expired Friday in the face of supreme court judgment temporarily stopping the process for now..