Just In:Finance Minister Kicks Against CBN Plan To Redesign Naira Notes

Minister of Finance, Budget and National Planning, Zainab Ahmed, has rejected a plan by the Central Central Bank of Nigeria (CBN) to redesign naira, warning the apex bank of its dire consequences on the country’s troubled economy.

Ahmed expressed her opposition to the policy in response to a question raised by Senator Opeyemi Bamidele during the 2023 budget defence session she had with  the Senate Committee on Finance.

She said; ” We are not aware of it, we just hear announcement. And it will be injurious to the economy.”

The Minister warned CBN of the consequences that may arise from the exercise.

Senator Bamidele had in his question, told the Finance Minister that barely two days after announcement of the policy by CBN , repercussions of it on the value of naira to US dollar was being felt .

It would be recalled that the CBN Governor, Godwin Emefiele had on Wednesday dropped the hint, revealing   that the apex bank would redesign the N200, N500 and N1000 notes. 

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