Council of State backs naira redesign policy

– ask CBN to print more naira notes or recirculate old notes

The Council of state have expressed support for the naira redesign policy of the Central Bank of Nigeria (CBN).

The council however asked the CBN governor, Godwin Emefiele to make new naira notes available or recirculate old naira notes to ease the suffering of Nigerians.

ValidView Network had earlier reported that the hybrid meeting which was held on Friday at the presidential villa, was presided over by President Muhammadu Buhari.

The meeting which lasted for over four hours had in attendance former heads of state, Gen. Yakubu Gowon (retd), Gen. Abdulsalami Abubakar (retd) and former president Goodluck Jonathan, while former President, Olusegun Obasanjo, joined the meeting online.

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

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Jointly briefing State House correspondents at the end of the meeting, Governors of Taraba, Darius Ishaku , Lagos, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, AGF Abubakar Malami, said generally the naira redesign policy was accepted by members but raised concerns about the implementations.

Ishaku said: “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.”

Sanwo-Olu, on his part said that Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, and Inspector General of Police (IGP), briefed the council on the state of preparedness for the 2023 general elections, and assured that they were fully prepared.

Malami said: “We are on course as far as election preparedness is concerned.”