…Warns Emefiele against consequences
The Federal Government on Friday, disagreed with the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, following the proposed plan to redesign Naira notes.
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This comes barely 48 hours after the apex bank announced that it would redesign the country’s currency on December 15, 2022.
Reacting, Minister of Finance, Budget and National Planning, Zainab Ahmad, frowned against the policy, adding that if implemented, the redesigning would portend grave consequences for the nation and its economy.
However, in a swift reaction to the finance minister’s contradictory stance, a highly placed source at the CBN who spoke to a Nigerian newspaper (not Quest Times) said the Naira redesigning exercise was approved by President Muhammadu Buhari.
Zainab who commented on the policy in response to questions raised by Senator Opeyemi Bamidele, during the 2023 budget defence session, however warned CBN of consequences that may arise from it.
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“Distinguished senators, we were not consulted at the Ministry of Finance by CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise .
“However, as a Nigerian privileged to be at the top of Nigeria’s fiscal management, the policy as rolled out at this time, portends serious consequences on value of Naira to other foreign currencies.
“I will however appeal to this committee to invite the CBN governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now,” she said.