In response to charges that Zainab Ahmed, the finance minister, made a unilateral decision, President Muhammadu Buhari says he supports the Central Bank of Nigeria's plans to introduce new designs and retire high-value notes.
Garba Shehu, the president's media aide, reported in Abuja on Sunday that Mr Buhari made his opinion known while appearing on a Hausa radio programme that will be broadcast on Wednesday.
Dr Zainab Ahmed, the minister of finance, budget, and national planning, claimed before a senate committee on Friday that the CBN had not supported the ministry's plans to redesign the naira and issue other currencies.
Ms Ahmed criticised the procedure for being poorly timed and urged the parliament to call the apex bank in for questioning.
Mr Buhari asserted that he was confident, nonetheless, that the nation would benefit much from the CBN's decision to redesign the naira notes.
He claimed that the CBN's arguments persuaded him that the economy would gain from lower inflation, less currency fraud, and more cash in circulation.
Mr Buhari stated that he did not think the three-month transition period to the new notes was too brief.
“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,” the president said.
Mr Shehu stated that the president also addressed issues surrounding food security and national security, among others in the interview.
(NAN)