Buhari also said 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.
By Jeffrey Agbo
President Muhammadu Buhari has assured all stakeholders that the Central Bank of Nigeria (CBN) has its approval to launch new designs and replace high value naira notes.
A statement on Sunday by presidential spokesman Garba Shehu said President Buhari spoke in a Hausa radio interview with the famous journalist Halilu Ahmed Getso, and Kamaluddeen Sani Shawai to be aired Wednesday Morning on Tambari TV on Nilesat.
The President said that he is convinced that the nation will gain a lot by doing so.
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Buhari also said 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,” said Buhari.
In the interview, the President also addressed issues of food security and national security, among others.
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