Nigeria’s President, Muhammadu Buhari has said that he approved new naira notes, the country’s currency.
In a message issued on Sunday, the President cleared the air on the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high-value naira notes.
He said the CBN had his support and was convinced that the nation would gain a lot by redesigning the currency.
READ ALSO: New Naira Notes, beneficial to Nigeria’s economy – Group
Speaking in a Hausa radio interview with famous Journalists; Halilu Ahmed Getso and Kamaluddeen Sani Shawai to be aired on Wednesday Morning on Tambari TV and on Nilesat, President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from a reduction in inflation, currency counterfeiting and the excess cash in circulation.
He 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,” he said.
In the interview, the President also addressed issues of food security and national security, among others.
READ ALSO: Nigeria’s Central Bank introduces newly designed Naira notes
It would be recalled that the Central Bank of Nigeria Governor, Godwin Emefiele had on Wednesday, October 26, 2022, announced that newly designed naira notes circulation across the country would begin on December 15 2022.
PIAK
