HomePoliticsNEWSAllow New, Old Naira Co-Exist, APC Governors Urge Buhari

Allow New, Old Naira Co-Exist, APC Governors Urge Buhari

Members of the Progressive Governors’ Forum on Friday urged President Muhammadu Buhari to prevail on the Central Bank of Nigeria to allow the old and new naira notes to co-exist.

They believe that this would ease the current scarcity of naira notes and their ancillary effects.

Nasir El-Rufai, governor of Kaduna State, who spoke to journalists in Hausa, revealed this shortly after governors elected on the All Progressives Congress ticket met the President at the State House, Abuja.

The governor argued that the move had become necessary as the CBN mopped up over N2tn of the old notes but only printed N300bn of the new ones. According to him, the new notes in circulation are insufficient for Nigerians.

The former FCT minister said the CBN’s cashless policy should have been preceded by the printing of at least half of the amount mopped up, N1tn.

He lamented that many Nigerians were suffering even as traders of perishable goods were daily losing their wares due to low patronage.

Therefore, the governors appealed to the President to consider their request.

Asked about Buhari’s response, he said the President did not reply with a “yes” or “no.”

However, the Chairman of Progressive Governors Forum, Abubakar Bagudu, is meeting the President behind closed doors, hoping to get a definite response.


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Mary Ama
Mary Ama
A passionate writer with the sauce. I do that to get you entertained without a 404 page.

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