Finance Minister Says ‘NO’ To Redesign Naira Notes

The Minister of Finance, Budget and National Planning, Zainab Ahmad says she is not aware that the Central Bank of Nigeria is planning to replace its naira currency to reduce excess cash, inflation, and crime.

The Minister who commented on the policy in response to a question raised by Senator Opeyemi Bamidele-Ekiti Central during the 2023 budget defense session she had with the Senate Committee on Finance, warned CBN of consequences that may arise from it.

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

Surprisingly, the Minister in her response said She and her Minister, are not aware of the policy but only heard of it from the media.

The CBN Governor, Godwin Emefiele had on Wednesday said that the apex bank would redesign the country’s currency from 200 Naira denomination to N1,000 notes.

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