Buhari Snubs Finance Minister, Says CBN Has His Backing To Redesign Naira Notes

President Muhammadu Buhari on Sunday said that the decision of the Central Bank of Nigeria (CBN) to redesign high value Naira notes had his support and is convinced that the nation will gain a lot by doing so.

Speaking in an Hausa radio interview with the famous journalist Halilu Ahmed Getso, and Kamaluddeen Sani Shawai to be aired Wednesday Morning on Tambari TV on Nilesat, President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from 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.”

In the interview, the President also addressed issues of food security and national security, among others.

GWG.NG reports that the assertion by President Buhari flies in the face of the strong opposition expressed by Finance Minister, Zainab Ahmed over the redesign of the higher denominations of the naira.

Mrs Ahmed had claimed her ignorance of the plan and expressed her opposition to it during an appearance at the National Assembly.

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