President Muhammadu Buhari on Sunday said the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes, had his approval
This is contrary to the minister of Finance, budget and National planning, Zainab Ahmed who disowned the policy
A statement by Senior Special Assistant to the President Garba Shehu quoted President Buhari to have indicated that the 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.
He said he did not consider the period of three months for the change to the new notes as being short.
”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.”
In the interview, the President also addressed issues of food security and national security, among others.