Buhari Says No Going Back On CBN’S Redesigning Of Naira Notes

President Buhari says there is no going back on plans by the Central Bank of Nigeria (CBN) to introduce new naira in N200, N500 and N1,000 denominations.

The apex bank had announced the introduction of the new three notes on November 15, while the existing ones are to cease to serve as a legal tender as from January 31.

Buhari, who is on a medical trip to the UK, spoke on the issue with the Nigerian Television Service in London, on Wednesday.

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The President says he agreed with the explanation of the CBN Governor, Godwin Emefiele that the initiative would tackle the massive hoarding of the naira notes, as well as counterfeiting.

Buhari also says that three months is enough for people to phase out the old N200, N500 and N1,000 notes for the new ones.

On his medical trip, Buhari explains that he was not facing major health challenges, except the need for regular checks on eyes and teeth.

The president also says that he had been patronizing the London clinic since 1978.