The National Council of State has backed the Federal Government’s new monetary policy but tasked the Central Bank of Nigeria (CBN) to take urgent steps to arrest the scarcity of cash across the nation.
CBN Governor Godwin Emefiele was advised to make new naira notes available or re-circulate old naira notes to ease the suffering of Nigerians.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami accompanied by Governors Babajide Sanwo-Olu(Lagos) and Darius Ishaku (Taraba) briefed reporters with presidential spokesman Femi Adesina on the outcomes of the meeting.
Disclosing the final resolutions of the meeting, Malami said the two major issues deliberated were the level of preparedness for the general elections, for which he said the Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, and the Inspector-General of Police (IGP), Alkali Baba assured of adequate readiness.
by way of conclusion, the two significant resolutions that were driven, arriving from the deliberations of the Council, are one that we are on course as far as the election is concerned. We are happy with the level of preparation by INEC and the institutions.
“Two, relating to the naira re-designed policy, the policy stands, but then the Council agreed that there is a need for aggressive action on the part of the Central Bank, as it relates to the implementation of the policy by way of ensuring adequate provision being made with regard to the supply of the naira in the system,” he said.
ALSO, READ
