President Muhammadu Buhari has 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.
A statement on Sunday issued by Garba Shehu, Senior Special Assistant on Media and Publicity to the President said the president disclosed his approval while speaking in a Hausa radio interview with the famous journalist,Halilu Ahmed Getso and Kamaludden Sani Shawai to be aired on 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.
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.
