Council of State to CBN: Recirculate old naira notes or print new ones

The members of the Council of State have thrown their weight behind the Central Bank of Nigeria’s naira redesign policy.

The council also directed the CBN Governor, Godwin Emefiele, to make the new naira notes available or recirculate the old notes to ease the suffering of Nigerians.

This was made known after the Council of State meeting presided over by President Muhammadu Buhari at the Presidential Villa in Abuja on Friday.

Speaking to State House correspondents after the meeting, Governors Darius Ishaku (Taraba) and Babajide Sanwo-Olu (Lagos), and the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, said the naira redesign policy was accepted by the members of the council but raised concerns about the implementations.

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“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,” Governor Ishaku disclosed.

Also speaking, Sanwo-Olu said the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, and the Inspector General of Police (IGP), Usman Baba, briefed the council on their preparedness for the 2023 general election and assured that they were fully prepared.

Others present at the meeting were Vice President Yemi Osinbajo and former Heads of State, retired Gens. Yakubu Gowon and Abdulsalami Abubakar as well as former President Goodluck Jonathan.

Others were Senate President, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila; and the Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Ahmed Audi.

Also in attendance were former Chief Justices of Nigeria, Alfa Belgore and Mahmood Muhammad; the Secretary to the Government of the Federation, Boss Mustapha; and the Head of Service, Folashade Yemi-Esan, among others.

The Star