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All Progressives Congress (APC) governors have appealed to President Muhammadu Buhari to allow old and new naira notes to co-exist in circulation.
This appeal was made during the APC governors’ meeting with the President on Friday, the chairman of that gathering, Governor Nasir el-Rufai of Kaduna state has confirmed.
The call to allow both old and new Naira notes to co-exist was made by Kaduna State Governor, Nasir El-Rufai and other APC governors.
This is due to the insufficient supply of the new currency issued by the Central Bank of Nigeria (CBN). El-Rufai mentioned the mopping up of over N2tn of old notes, but only N300bn printed of new ones.
With little cash in circulation, many Nigerians are suffering while traders lose out on potential sales as they are unable to get hold of enough money.
Subsequently, the governors implored President Buhari to consider their request and Abubakar Bagudu is currently meeting with him to further discuss this matter – an outcome is yet to emerge as talks are still ongoing.
The outcome of their plea is not yet known as President Buhari neither declined nor approved the request.
This article was updated 7 months ago
