BREAKING: New Naira: I Decides In Seven Days – Buhari

Speaking to the Progressive Governors Forum who came to the presidential mansion to seek solutions to the cash crunch that they said threatened the government’s good track record in transforming the economy.

Buhari said the currency redesign will boost the economy and bring long-term benefits, while expressing doubts about the commitment of banks in particular to the policy’s success. “Some banks are inefficient and only worry about themselves,” said the president, “even if one more year goes by, problems related to selfishness and greed will not go away.”

He said he had seen television reports of cash shortages and hardships for local businesses and ordinary people and assured that the balance of seven of the 10-day extension will be used to crack down on anything standing in the way of a successful implementation.

“I will return to the CBN and the Minting Company. A decision will be made one way or another in the remaining seven days of the 10-day extension,” the president assured.

The governors told the president that while they agreed that his decision on the currency renewal was a good one and they fully support it, its implementation had failed and their constituents were increasingly upset.

They told the president that, as government and party leaders in their various states, they were concerned about a slump in the economy and the upcoming series of elections. They requested that the president use his powers to direct the simultaneous blooming of the new and old notes through the end of the year.

The president said that when he considered approving the policy, he demanded a commitment from the CBN that no new banknotes will be printed abroad and they in turn gave him assurances that there will be sufficient capacity, manpower and equipment was to print the policy. currency for local needs. He said he had to go back and find out what was really going on.

Buhari told the governors that because he was closer to the people, he had heard their cries and would act in such a way as to bring about a solution.