Buhari disowns finance minister, says CBN has his support to redesign naira
President Muhammadu Buhari says the Central Bank of Nigeria has his support to launch new designs and replace high value naira notes, casting off claims of a unilateral decision by finance minister Zainab Ahmed.
The president’s media aide, Garba Shehu, stated in Abuja on Sunday that Mr Buhari made his position known while speaking on a Hausa radio programme to be aired on Wednesday.
Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, had told a senate committee on Friday that the CBN did not carry the ministry along in its plan to redesign the naira and issue new currencies.
Ms Ahmed faulted the process as ill-timed, urging the parliament to summon the apex bank for questioning.
However, Mr Buhari said he was convinced that the nation would gain a lot by CBN’s decision to redesign the naira notes.
He said reasons given to him by the CBN convinced him that the economy stood to benefit from reduced inflation rate, currency counterfeiting and the excess cash in circulation.
Mr Buhari said he did not consider the period of three months for the change to the new notes as being short.
“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,” the president said.
Mr Shehu stated that the president also addressed issues surrounding food security and national security, among others in the interview.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
National Assembly to organise summit on aviation sector
He said that the summit would address challenges in the aviation sector to proffer solutions to them.
NationWide
CDS Musa calls for stronger military, NIA collaboration to tackle insecurity
The CDS commended the NIA boss for his exemplary leadership and commitment to national service.
NationWide
Don’t give up on Nigeria, Fayemi begs citizens
“The task of nation-building is not a one-off or static exercise, but is rather a dynamic and permanent work in progress.”
States
Workers are hungry; reinstate wage award: Anambra TUC tells Gov. Soludo
Mr Ogbonna said that both the state and the federal governments need to hasten the process of workers’ salary adjustment.
Heading 4
Lagos police identify officer who shot man dead at fuel station
“Investigation is still ongoing and further findings will be made available, ” he said.
Anti-Corruption
Kano govt. nabs three senior officials for collecting bribes to secure citizenship for illegal migrants
“We will keep interrogating them and at the end, if found wanting, they will be prosecuted.”