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.
However, Minister of Finance, Budget and National Planning, Zainab Ahmed, had said that her ministry was not consulted by the CBN on replacing the naira notes.
The CBN, however, fired back, stating that it followed due process.
The President, in a statement by his spokesman, Garba Shehu, 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.”
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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, President
In the interview, the President also addressed issues of food security and national security, among others.The Star