Council Of State Advise CBN To Print More New Notes Or Re-circulate Old Notes

By Ignatius Ushie

Members of the council of state have expressed support for the naira redesign policy of the Central Bank of Nigeria (CBN).

The council however asked Godwin Emefiele, the CBN governor, to make new naira notes available or recirculate old notes to ease the suffering of Nigerians.

The meeting, which held on Friday (yesterday) at the presidential villa, was presided over by President Muhammadu Buhari. At a joint press briefing by Taraba state governor and his Lagos counterpart Darius Ishaku, and  Babajide Sanwo-Olu,  and Abubakar Malami, attorney-general of the federation and minister of Justice on the outcome of the meeting, it was stated that “the council of state backed the CBN policy, the members expressed concerns about the implementation.

“The CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor.”  The hybrid meeting took place at the council chambers of the presidential villa, Abuja.

Yakubu Gowon and Abdulsalami Abubakar, former heads of state, were in attendance while former President Goodluck Jonathan was also present. Former President Olusegun Obasanjo joined the meeting virtually.

Membership of the national council of state comprises the president, vice-president, secretary to the government of the federation, former presidents, former heads of state, former chief Justices of Nigeria, senate president, house of representatives speaker, governors of the 36 states of the federation and the attorney-general of the federation.