Naira redesign: Again, Buhari meets Emefiele in Abuja

President Muhammadu Buhari has again met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the Presidential Villa in Abuja.

President Buhari met with Emefiele behind closed doors on Monday.

The latest meeting was the third meeting held between the President and the CBN Governor amidst the controversies surrounding the deadline for the validity of the old naira notes.

Emefiele, who was seen leaving Buhari’s office, declined to speak with journalists about the details of the meeting.

President Buhari, last Wednesday, met with the CBN boss after the Supreme Court temporarily stopped the February 10 deadline for the validity of old 200, 500, and 1,000 naira notes.

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The apex bank had extended the deadline for the collection of old naira notes to February 10, 2023

It had earlier fixed January 31 as the deadline for the validity of old N200, N500, and N1,000 banknotes.

The development generated reactions from Nigerians as there were calls for an extension of the deadline.

The Star recalls that the apex bank announced plans to redesign the currency on October 26, 2022.

It later set December 15 as the official commencement date for the circulation of the new naira notes, which President Buhari unveiled on November 23, 2022.

The CBN later issued a revised cash withdrawal policy, stating that cash withdrawals above N100,000 and N500,000 for individuals and corporate organisations will attract processing fees of five per cent and 10 per cent, respectively.

The Star