President Muhammadu Buhari said Sunday the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support.
Speaking in a Hausa radio interview with the famous journalist Halilu Ahmed Getso, and Kamaluddeen Sani Shawai to be aired Wednesday Morning on Tambari TV on Nilesat, the President Buhari said he is convinced that the nation would gain a lot by doing so.
He said the reasons given to him by the CBN convinced him that the economy stands to benefit from reduction in inflation, currency counterfeiting and the excess cash in circulation.
He said he did not consider the period of three months for the change to the new notes as being short.
”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all,” he said.
In the interview, the President also addressed issues of food security and national security, among others, his Senior Special Assistant on Media and Publicity Mr Garba Shehu, said in a statement in Abuja.