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In seven days, President Muhammadu Buhari will make a significant decision about the cash shortage across Nigeria caused by the Central Bank of Nigeria’s policy to exchange high-value naira notes for new ones.
His media secretary, Femi Adesina, reported on Friday that Buhari asked Nigerians to wait patiently while he discussed solutions with the Progressive Governors Forum at the State House.
The APC governors described how their constituents were facing problems due to this cash crunch and urged dedication of shared resources over current difficulties.
Buhari went on to question certain banks’ commitment to the plan and stated that in the remaining week of the 10-day extension given for executing the currency recolouring, he would decide on different methods for success.
He assured them that whatever stood in way of successful implementation, he would move forward and figure out a solution.
The concerned governors suggested utilization of both mew as well as old naira notes until end of year while coming through troubles faced.
President further asserted that when considering giving approval to the policy, he obtained assertion from CBN that enough manpower and equipment is available locally for printing appropriate currencies without wanting foreign countries’ support.
With his ears open to people’s cries and requests; he plans to find a feasible answer to the crisis caused by CBN’s announcement dated October 26th, 2022 aimed towards redesigning denominations of N200, N500 and N1000 which has induced many disappointing reactions otherwise too.
This article was updated 7 months ago
