Buhari Promises To Solve Naira Notes Crisis Within Seven Days
President Muhammadu Buhari has promised to resolve within seven days, the crisis trailing the implementation of the new naira notes, which has degenerated into a nationwide cash squeeze.
The president said he would use the remaining seven days to the February 10 deadline, to remove all obstacles facing the successful implementation of the naira swap.
Buhari spoke on the issue on Friday, at a meeting with the All Progressive Congress (APC) Governors at the Presidential Villa, FCT, Abuja.
The governors included those of Ogun, Ebonyi, Imo, Zamfara, Kano, Lagos, Kwara and Niger States.
They visited Buhari to complain about the hardships that Nigerians are being subjected to, by the naira swap implementation, as well as the protracted petrol crisis.
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Buhari told them that before he approved the newly redesigned naira notes, he demanded an undertaking from the Central Bank of Nigeria (CBN) and the Nigerian Printing and Minting Company that no new naira notes would be printed outside Nigeria.
According to Buhari, the CBN assured that it had enough capacity, manpower and equipment to print enough naira notes locally.
Within the next seven days, Buhari told the governors, he would revert to the CBN and minting firm what had been gone wrong.
The governors told the president that, while they agreed that his decision on the renewal of currency was good and they are fully in support, its execution had been botched and their constituents were becoming increasingly upset.
They told the president that, as leaders of the government and party in their different states, they were becoming anxious about a slump in the economy and the series of elections that are coming. They requested the president to use his powers to direct the concurrent flourish of the new and old notes till the end of the year.
