President Muhammadu Buhari has revealed that the Central Bank of Nigeria (CBN) has his backing to redesign the naira notes.
President Buhari stated that Nigeria has a lot to gain from the change in naira notes.
According to Garba Shehu, the president’s spokesperson, Buhari disclosed this while speaking in a Hausa radio interview with Halilu Ahmed Getso and Kamaluddeen Sani Shawai.
He added that he did not consider the period of three months for the change to the new notes as being short.
Also Read: Naira Redesign Will Make Kidnappers Demand For Ransom In Dollars – Gumi
”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,” Buhari said.
President Buhari stated that 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.
