Naira redesign: Council of state asks CBN to make new notes available, recirculate old banknotes to ease suffering

By Ogaga Ariemu

The National council of state has asked Godwin Emefiele, the Central Bank of Nigeria governor, to double up the circulation of the new naira notes and recirculate old notes to ease the suffering of Nigerians.

The meeting on Friday at the presidential villa was presided over by President Muhammadu Buhari.

The governor of Taraba, Darius Ishaku; Babatunde Fashola, governor of Lagos; and Abubakar Malami, attorney-general of the federation and minister of justice, spoke with state house correspondents on the outcome of the meeting.

They said although the council of state-backed the CBN policy, the members, allied with Nigerians on the suffering its implementation has caused.

“The Council urged CBN to make money(new naira notes) available in quantum,” Ishaku said.
“The old naira notes can also be recirculated to ease the suffering of the poorest poor.”

Membership of the national council of the state consists of the president, vice-president, secretary to the government of the federation, former heads of state, former presidents, 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.