President Muhammadu Buhari says the decision of the Central Bank of Nigeria, CBN, to launch new designs and replace high value Naira notes had his support, assuring that the nation will gain immensely from the action.

In a statement by the Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, the President says reasons given to him by the CBN have convinced him that the economy stands to benefit from reduction in inflation, currency counterfeiting, and excess cash in circulation.

He points out that the three-month deadline given for the change the currency to the new notes is most appropriate.

”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all”, the President stresses.

Abdullah Bello

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