CBN Has My Backing On Naira Redesign – Buhari

In a statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, the President said the only people who have losses to incur will be those with illicit money hidden away, not those involved in legitimate businesses and workers.

According to the statement, the President spoke in a Hausa interview, which is scheduled to be aired on Wednesday.

“President Muhammadu Buhari on Sunday said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so.

“Speaking 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, President Buhari 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,” the statement reads.