According to President Muhammadu Buhari, the CBN has his backing as it introduces new designs and replaces high-value notes.
Malam Garba Shehu, the president’s media aide, claimed in Abuja on Sunday that Buhari made his opinion clear while participating in a Hausa radio programme that will be broadcast on Wednesday.
Dr. Zainab Ahmed, the minister of finance, budget, and national planning, claimed before a senate committee on Friday that the CBN had not supported her department’s plans to restructure the naira and issue other currencies.
The procedure, according to Ahmed, was poorly scheduled.
The nation, according to President Buhari, would benefit greatly from the CBN’s decision to redesign the naira notes.
He claimed that the CBN’s arguments persuaded him that the economy would gain from lower inflation, less currency fraud, and more cash in circulation.
Buhari stated that he did not think the three-month transition period to the new notes was too brief.
“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.
Shehu claimed that the president covered a variety of topics in the conversation, including the nation’s security and food supply.
