New Naira Notes: Finance minister kicks against plan, says ministry not consulted

, has kicked against plans by the Central Bank of Nigeria to redesign some naira notes.She said this on Friday when she appeared before the Senate Committee on Finance for the ministry’s budget defence session.to redesignThe plan is to redesign N100, N200, N500, and N1000 and start disbursing by December and by January 31, 2023, the old notes are expected to be out of circulation.

Mr Emefiele had said currency management has faced several daunting challenges that have continued to escalate in scale and sophistication with attendant and unintended consequences for the integrity of both the CBN and the country. Mr Bamidele had noted that two days after the announcement, the exchange of Naira to a US dollar has risen from N740 to N788 to a US dollar – due to rush in trade of stacked naira notes for foreign currencies, particularly the dollar .

The finance minister said she and her ministry’s officials were not aware of the policy but only learnt of it from the media.

There can not be anything good done with secrecy and hidden motives. If Finance ministry is not aware then government should call CBN governor to order and stop it. The ever bearish Naira is gaining momentum since CBN made the announcement.

Your oga can do it without you

This was how they bought vehicles for Niger Republic and then brought the receipts to the finance Minister. Motor, she no see.

The CBN is an independent body. The CBN does not need your permissions, madame.

The wizards at cenbank and the presidency know their game-maximise gains from illegal Black market transactions by driving demand there(ongoing game since 2016)as they allocate FX to F&Fs at official rates.This is urgent since whoever wins in 2023 will likely end the FX bazaar.

A very terrible government. A President approved the change of currency notes, and the minister in charge of the economy is claiming denial.

One criminal boosted...... 😂😂😂 Emifele no going back...let 6 weeks be 6 weeks.... return old naira note to banks

Am suspecting sharing formular is the problem not the interest of Nigeria people

Thieves don dey voice out 🤣🤣🤣🤣

Lol, The real people wey he go affect don Dey voice out

Wahala

It's well ooo

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Finance Minister Disagrees With CBN Over Naira RedesigningTwo days after the Central Bank of Nigeria (CBN) announced planned redesign of the naira the minister of Finance, Budget and National Planning, Zainab Ahmad, Does this government have direction at all? Imagine a supervising minister countering a policy being conceived by a governor of CBN and the their principal is just looking like m... m.. Confusion here and there. So you mean cbn governor can just initiate a policy without government knowing? Maybe the redesign will do away with the Arabic inscriptions of her paymasters.
Source: LeadershipNGA - 🏆 4. / 77 Read more »