Politics
PRESIDENT Muhammadu Buhari on Thursday told Nigerians that he sympathizes with them on the the implementation of the monetary policy that led to the redesigning of 200, 500 and 1,000 Naira and mopping up of same.
The President spoke on Thursday on the recent crisis occasioned by implementation of the policy which has led to the scarcity of the notes.
Buhari’s speech comes on the heels of the nationwide outrage over the naira redesign policy of the Central Bank of Nigeria (CBN).
Recall Nigerians have been battling with the scarcity of new naira notes— a development that has led to queues at banking halls, and automated teller machine (ATM) points.
There have been protests in some parts of the country due to the scarcity of new naira notes. On Wednesday, there were protests across the country as banks were destroyed while security operatives reportedly gunned down some persons in Edo State.
Among states where there was a crisis are Oyo, Ondo, Kwara, Edo, Benue, and Delta.
The Central Bank of Nigeria (CBN) had given a deadline of January 31 for the use of old naira notes — but it extended it to February 10.
On February 8, the supreme court temporarily restrained the federal government from banning the use of the old naira notes from February 10, 2023, pending the hearing of the matter on February 15.
Despite the court’s order, Emefiele insisted on the deadline.
-Vanguard
KN
Tags: CBN President Muhammadu Buhari
