Home Economy CBN plan to redesign Naira notes opposed by Finance Minister

CBN plan to redesign Naira notes opposed by Finance Minister

by STALLION TIMES
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Minister of Finance, Budget and National Planning, Zainab Ahmed, has rejected a plan by the Central Bank of Nigeria (CBN) to redesign naira, warning the apex bank of its consequences on the country’s troubled economy.

Ahmed expressed her opposition to the policy in response to a question raised by Senator Opeyemi Bamidele during the 2023 budget defence session she had with the Senate Committee on Finance

The Minister warned CBN of the consequences that may arise from the exercise.

Senator Bamidele had in his question, told the Finance Minister that barely two days after announcement of the policy by CBN, repercussions of it on the value of naira to US dollar was being felt .

Recall that the CBN Governor, Godwin Emefiele dropped the hint on Wednesday, revealing that the incoming exercise would redesign the Nigerian currency, starting from N100 denomination to N1,000 notes.

(The Eagle)

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