The Council of State meeting presided over by President Muhammadu Buhari has thrown its weight behind the cashless policy recently introduced by the Central Bank of Nigeria (CBN). 

The meeting which had in attendance erstwhile heads of state and president; Yakubu Gowon, Abdulsalami Abubakar, and Goodluck Jonathan, however, asked the CBN governor, Godwin Emefele, to ensure the new naira notes are available or recirculate the old notes to ease the current hardship in the country. 

In a joint briefing after the hybrid meeting, the governor of Taraba, Darius Ishaku, hinted that the CBN’s policy was accepted by members.  

He added that concerns were however raised about its implementation especially as the general elections draw nearer. 

“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,” Mr Ishaku. 

Former President, Olusegun Obasanjo, joined the meeting online.

Ex-Chief Justice of the Federation, Alfa Belgore and Mahmud Muhammad, were also in attendance.

More details later…