The Council of State Tells CBN to either print more new notes or recirculate old notes

The Council of State Tells CBN to either print more new notes or recirculate old notes

The Council of State has endorsed the Central Bank of Nigeria’s (CBN) Naira Redesign strategy and advised its governor, Godwin Emefiele, to release new Naira notes or reissue existing ones, In order to alleviate the suffering of Nigerians,

Governor Ishaku said

The CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor.

According to Governor Sanwo-Olu, at the meeting, Prof. Mahmood Yakubu, the chairman of the Independent National Electoral Commission (INEC), and IGP Alkali Baba Usman, the inspector general of police, provided the Council with an update on their readiness for the 2023 general elections and reaffirmed their assurances that they were well-prepared for the process.

Former Heads of State and Presidents Gen. Yakubu Gowon (retired), Gen. Abdulsalami Abubakar (retired), and Goodluck Jonathan attended the meeting, which lasted more than four hours and took place in the Council Chambers of the Presidential Villa in Abuja. Former President Olusegun Obasanjo joined the meeting online.

Two former Chief Justices of Nigeria, Alfa Belgore and Mahmud Muhammad, were also in attendance.