Buhari declares support for redesigning of Naira notes

President Muhammadu Buhari has said that he is fully in support of the Central Bank of Nigeria (CBN)’s move to redesign the naira notes.

This is coming after the Minister of Finance, Budget and National Planning, Zainab Ahmed, said she wasn’t aware of the decision.

However, in a statement by his media aide Garba Shehu, the President said he is aware of the redesigning and that he is “convinced that the nation will gain a lot by doing so”.

The President said reasons given to him by the CBN convinced him that the economy stood to benefit from the reduction in inflation, currency counterfeiting and the excess cash in circulation.

“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, he said