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Naira Redesign: Council Of State Advises CBN To Print More Notes Or Make Old Notes Available To Nigerians To Ease Hardship

Posted by: Quickresponse | February 10, 2023

The National Council of States has backed the Naira redesign policy of the Buhari Administration.

However, the meeting which deliberated on critical national issues for over four hours mandated the Governor of Central Bank of Nigeria, Godwin Emefiele, to make the new Naira notes available or recirculate old Naira notes to address the hardship caused by the policy in the country.

The Governors of Taraba, Darius Ishaku his Lagos counterpart,, Babajide Sanwo-Olu, and the Attorney General of the Federation and Minister of Justice, Abubakar Malami, jointly briefed State House correspondents after the meeting.

They said that the members of the Council of State accepted the policy but made reservations about its implementation.

Ishaku said: â€œThe CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor.â€

His Lagos State counterpart, Sanwo-Olu, told journalists that the duo of Chairman of the Independent National Electoral Commission, Mahmood Yakubu, and Inspector General of Police briefed the council on the level of the preparedness for the smooth conduct of the forthcoming general elections.

On his part, Malami said that the nation was in the right course as far as preparedness for the election is concerned. â€œWe are on course as far as election preparedness is concerned.â€

The National Council of State meeting held at the Presidential villa, Abuja with President Muhammadu Buhari presiding.

The meeting was called to discuss the

National crises which include the current petrol and Naira scarcity, insecurity, and others ahead of the general elections.

The Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, was invited to update the Council on the preparations of his Commission, ahead of the 2023 elections.

The Inspector General of Police (IGP), Alkali Baba, Commandant General, Nigerian Security and Civil Defence Corps, Hammed Audi and Governor of the Central Bank of Nigeria, Godwin Emefiele also briefed the council.

Three former leaders, Gen Yakubu Gowon, Gen Abubakar Abdusalami and former President Goodluck Jonathan attended the meeting which started around 10:12 am at the Council Chambers.

Also former President Olusegun Obasanjo, Sokoto State Governor and Chairman of Nigeria Governors Forum (NGF), Aminu Tambuwal, Kebbi State Governor and chairman of Progressive Governors Forum, Abubakar Bagudu, Plateau governor and chairman Northern Governors Forum, Simon Lalong, Ebonyi, David Umahi, Kogi, Yahaya Bello, Osun Governor, Ademola Adeleke, Jigawa,Abubakar Badaru, and Ogun, Dapo Abiodun are attended the meeting virtually.

The list of those who attended online includes Benue State Deputy governor benson Abounu, Deputy governor of Nasarawa, Emmanuel Akabe, Enugu Deputy governor, two former Chief Justices of the Federation, Alfa Belgore and Mahmud Muhammad.

Physically present at the meeting were

Vice President, Yemi Osinbajo, President of the Senate, Ahmed Lawan

Speaker of the House of Representative, Femi Gbajabiamila, Attorney General, Minister of Justice, Secretary to the Government of the Federation, Boss Mustapha, and Head of Service of the Federation, Folashade Yemi-Esan.

Also the Governors of Taraba State Governor, Dairu Isiaku, Kaduna State Nasir El-Rufai, Borno, Babagana Zulum, Gombe, Inuawa Yahaya, Lagos, Babajide Sanwo-Olu, Kwara, Abdulrahman Abdulrazak and Deputy Governor Bauchi, Baba Talla were in attendance.

The Minister of the FCT, Mohammed Bello; Secretary to the Government of the Federation, Boss Mustapha; Attorney General of the Federation and Minister of Justice, Abubakar Malami and the Governor of the Central Bank of Nigeria, Godwin Emefiele also attended the meeting.

All the Service Chiefs and Heads of security agencies were also present.

The National Council of State is the organ of the Nigerian government with powers to advise the executive on policy making.

Membership of the Council comprises the President, Vice President, Secretary to the Government of the Federation, former presidents, former heads of state, former chief justices of Nigeria, President of the Senate, Speaker of the House of Representatives, governors of the 36 states of the federation and the Attorney General of the Federation.
( The network)