President Muhammadu Buhari has said the decision of the Central Bank of Nigeria (CBN) to circulate new designs of naira notes has his full backing.
President Buhari made this known in a statement released by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu on Sunday.
According to Buhari, he was convinced that the nation will benefit from the policy.
He said this while 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,
Buhari said that that the by virtue of the new policy, there is bound to be a reduction in inflation, currency counterfeiting and the excess cash in circulation.
He disagreed with arguments that the three months notice for the change is too short.
He said ”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.”