{"id":66065,"date":"2022-10-30T20:35:00","date_gmt":"2022-10-30T19:35:00","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=66065"},"modified":"2022-10-30T20:35:00","modified_gmt":"2022-10-30T19:35:00","slug":"buhari-backs-cbn-on-new-naira-notes-controversy","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/buhari-backs-cbn-on-new-naira-notes-controversy\/","title":{"rendered":"Buhari Backs CBN On New Naira Notes Controversy"},"content":{"rendered":"

President Muhammadu Buhari has backed the Central Bank of Nigeria (CBN) in the move to have some of the Naira notes redesigned.<\/p>\n

Finance and National Planning Minister,\u00a0Dr Zainab Ahmed had said last Friday that her ministry was not aware of the policy.<\/p>\n

But the CBN responded that it followed due process.<\/p>\n

A statement on Sunday by the Senior Special Assistant to the President, Mallam Garba Shehu corroborated the bank\u2019s stance, as it stated that the apex bank had the support of the President.<\/p>\n

The presidential spokesman\u2019s statement, titled \u201cCBN Has My Backing in Replacing Naira Notes, Says President Buhari\u201d reads: \u201cPresident Muhammadu Buhari on Sunday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cSpeaking in a 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.<\/p>\n

\u201cHe said he did not consider the period of three months for the change to the new notes as being short.<\/p>\n

\u201dPeople 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.<\/p>\n

\u201cIn the interview, the President also addressed issues of food security and national security, among others\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Muhammadu Buhari has backed the Central Bank of Nigeria (CBN) in the move to have some of the Naira notes redesigned.<\/p>\n","protected":false},"author":6,"featured_media":66066,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17,624],"tags":[36,8836],"coauthors":[2391],"class_list":["post-66065","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","category-politics","tag-cbn","tag-president-mohammadu-buhari"],"yoast_head":"\nBuhari Backs CBN On New Naira Notes Controversy - National Wire<\/title>\n<meta name=\"description\" content=\"President Muhammadu Buhari has backed the Central Bank of Nigeria (CBN) in the move to have some of the Naira notes redesigned.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/buhari-backs-cbn-on-new-naira-notes-controversy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buhari Backs CBN On New Naira Notes Controversy - 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