JUST IN: Council of state asks CBN to print more naira notes or recirculate old notes
The Central Bank of Nigeria (CBN) has been entrusted with acting quickly to stop the shortage of currency across the country, notwithstanding the National Council of State’s support for the Federal Government’s new monetary strategy.
To lessen the pain of Nigerians, CBN Governor Godwin Emefiele was recommended to either issue new naira notes or reissue old ones.
Reporters were briefed on the meeting’s conclusions by the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who was joined by the governors of Taraba and Lagos, Babajide Sanwo-Olu and Darius Ishaku.
The Independent National Electoral Commission’s (INEC) Chairman, Professor Mahmood Yakubu, and the Inspector-General of Police (IGP), Alkali Baba, revealed the meeting’s final recommendations, with Malami stating that the two main topics discussed were the general elections’ degree of preparedness.
He added that the conclusion was that the CBN should do more to ensure there is circulation of enough cash in the system to lessen the harsh realities following the policy. He said the briefing on the new monetary policy, including the redesigning of some categories of the naira, elicited reactions and opinions.
