CBN has my backing on naira redesign– Buhari

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President Muhammadu Buhari has stated the Central Bank of Nigeria (CBN) has his backing on the controversy trailing the decision to introduce new naira notes.

He said he approved the policy because he was convinced it is in national interest.

In a statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, the President said the only people people who have losses to incur will be those with illicit money hidden away, not those involved in legitimate businesses and workers.

“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, President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from reduction in inflation, currency counterfeiting and the excess cash in circulation,” the statement reads.

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