President Buhari has asked the CBN to consider recommendations offered by the Ado Doguwa-led House of Representatives’ ad-hoc Committee on Naira Re-design, Cashless Policy and Currency Swap, to correct identified problems with the new national monetary policy.
The president gave the advice on Thursday when he received a briefing from members of the House ad-hoc Committee at the Presidential Villa, Abuja.
The CBN governor, Godwin Emefiele, assured that N200 currency notes taken out of circulation would be moved back from yesterday. He promised that by the end of February, the CBN would have brought between N700 billion to N800 billion, well in excess of what is needed to run the economy, into circulation.
Speaking to State House reporters after the meeting, Emefiele said he had met 15 top banks earlier in the day in an effort to resolve prevailing problems and will do so again later in the evening, appealing to Nigerians to be patient with the process as the current pains will soon ease off.
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