The Nigerian Council of State says it welcomes the the new naira notes policy. It however advised the Central bank of Nigeria to make the redesign Naira notes available or re-circulate old notes to ease the suffering of Nigerians.
This was one of major resolutions reached on Friday during the hybrid meeting of the council chaired by President Muhammadu Buhari at the Presidential Villa Abuja.
The meeting was attended by former Heads of State and Presidents, Gen. Yakubu Gowon (retd), Gen. Abdulsalami Abubakar (retd) and Goodluck Jonathan, while former President, Olusegun Obasanjo, joined the meeting virtually.
Briefing State House Correspondents at the end of the meeting were Governors of Taraba, Darius Ishaku, Lagos, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, Abubakar Malami,
They said that the the policy was accepted by council members but raised concerns about the implementations.
Ishaku said: “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.”
Sanwo-Olu, on his part said Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, and Inspector General of Police (IGP), briefed the council on a state of preparedness for the 2023 general elections, and assured that they were fully prepared.
Malami said: “The two major resolutions that were driven arising from the deliberation are 1; that we are on course as far as election is concerned, and we are happy with the level of preparation by INEC and the institutions.
“2; relating to the Naira redesign policy, the policy stands but then the council agreed that there is need for aggressive action on the part of the CBN as it relates to the implementation of the policy by way of ensuring adequate provision being made with particular regard to the supply of the Naira in the system.”
Asked about the Supreme court Judgement on the deadline of the redesign note, Malami explained that the matter is in court, but said both parties are still open to amicable resolution of the matter.