Members of the council of state have endorsed the Central Bank of Nigeria’s decision to redesign the naira (CBN).
To alleviate the suffering of Nigerians, the council requested that Godwin Emefiele, the CBN governor, make new naira notes available or recirculate existing ones.
President Muhammadu Buhari presided over the meeting, which was held on Friday at the presidential palace.
The outcome of the meeting was shared with state house correspondents by Darius Ishaku, governor of Taraba, Babajide Sanwo-Olu, governor of Lagos, and Abubakar Malami, attorney-general of the federation and minister of justice.
They stated that despite the council of state’s support for the CBN policy, the members have expressed reservations regarding its implementation.
Ishaku stated: “The CBN was encouraged to make money available in quantity.”
It is also possible to recirculate old currency to alleviate the suffering of the poorest of the poor.
Mahmood Yakubu, head of the Independent National Electoral Commission (INEC), and Alkali Baba, inspector general of police (IGP), reportedly briefed the council on election preparations.
Commenting on their briefing, the attorney general stated, “We are on track in terms of election readiness.”
The hybrid meeting was held in the Abuja presidential villa’s council chambers.
Former chiefs of state Yakubu Gowon and Abdulsalami Abubakar were there, along with former President Goodluck Jonathan.
Former President Olusegun Obasanjo participated electronically in the conference.
The national council of state is composed of the president, vice-president, secretary to the government of the federation, former presidents, former heads of state, former chief justices of Nigeria, senate president, house of representatives speaker, governors of the 36 federation states, and the attorney-general of the federation.