Barely two days after the Central Bank of Nigeria (CBN) announced the redesigning of the Naira billed for December 15, 2022, the Minister of Finance, Budget and National Planning, Zainab Ahmad, has disowned the policy The Minister responding to a question raised by Senator Opeyemi Bamidele (APC Ekiti Central) during 2023 budget defence session with […]
Barely two days after the Central Bank of Nigeria announced the redesigning of the Naira billed for December 15, 2022, the Minister of Finance, Budget and National Planning, Zainab Ahmad, has disowned the policy The Minister responding to a question raised by Senator Opeyemi Bamidele during 2023 budget defence session with…
The Minister responding to a question raised by Senator Opeyemi Bamidele during 2023 budget defence session with the Senate Committee on Finance she warned the CBN of the consequences that may arise from redesigning 200, 500, 1,000 naira notes.“Just two days after announcement of the policy, value of Naira to a US dollar has risen from N740 to N788 to a US dollar due to rush in exchange of stached Naira Notes for foreign currencies, particularly the dollar,” Bamidele said.
“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.