President Muhammadu Buhari has said that the plan by the central bank of Nigeria will go on as planned after meeting King Charles III at Buckingham Palace in the United Kingdom.
Recall that the announcement by the governor of the Central Bank of Nigeria, Godwin Emefiele, on the 20th of October, 2022 that the apex bank will redesign N200, N500 and N1000 notes to control the supply of money and help in the fight against insecurity has generated reactions in the country with professionals asserting that the plan will adversely affect the nation’s economy.
Even though the minister of finance, budget and national planning responded shortly after the announcement that the ministry was not consulted by the Central Bank before making the plan.
However, Buhari, while speaking to reporters after meeting the newly proclaimed UK monarch said the plan is in the right direction and that Nigerians have been given enough time to deposit the current naira notes to their banks so as to get the new redesigned notes which will be issued beginning from December 15, 2022.
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Speaking , the president said: “on this change of currency, there will be a lot of money but time has been given from October to December. Three months is enough for whatever money you have, to get it changed through the legal system,”
“So I don’t know why people are complaining about it,” He added.
Affirming his endorsement for the plan, the president declared that “there is no going back”.
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