Only people with illicit money will have difficulty over CBN’s new Naira policy, says Buhari

By BASHIR ADEFAKA

The Nigeria’s Presidency, on Sunday, confirmed the claims by Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, that he secured the approval of President Muhammadu Buhari before embarking on implementation of the planned redesigning of new Naira notes in the country are correct.

This confirmation came as the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said President Buhari made his position known while speaking on a Hausa radio programme in Abuja on Sunday and which has been scheduled to be aired on Wednesday.

The DEFENDER reports that the need for position of the President became necessary due to near confusion that greeted the CBN’s decision when the Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, told a Senate Committee – during a budget defence meeting – on Friday that the apex bank did not carry her Ministry along in its plan to do so.

Minister Ahmed faulted the process as ill-timed.

However, President Buhari in the radio interview that will be fully aired later in the week, according to Shehu, said he was convinced that the nation would gain a lot by the CBN’s decision to redesign the Naira notes.

He said reasons given to him by the CBN convinced him that the economy stood to benefit from reduced inflation rate, currency counterfeiting and the excess cash in circulation.

Buhari said he did not consider the period of three months for the change to the new notes as being short as, he said, it is only people with illicit wealth and have things to hide that are complaining about it.

“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,’’ the President said.

Malam Garba Shehu stated that the President also addressed issues surrounding food security and national security, among others in the interview.