Allow New Notes And Old Naira Notes To Co-exist–  APC Governors Beg President Buhari

Governors under the platform of the ruling All Progressive Congress, APC, have asked President Muhammadu Buhari to let the Central Bank of Nigeria allow the old and new naira notes to co-exist.

The governors made this appeal during a meeting with the President at the State House, Abuja on Friday.

Governor of Kaduna State, Nasir El-Rufai, who spoke to journalists in Hausa shortly after meeting said that it is their belief that their appeal would ease the current scarcity of naira notes and its ancillary effects

Governor El-Rufai argued that the move became necessary as the CBN mopped up over N2tn of the old notes but only printed N300bn of the new ones.

He said the new notes in circulation are insufficient for Nigerians.

He further said the CBN’s cashless policy should have been preceded by the printing of at least half of the amount mopped up, N1tn.

The governor also lamented that many Nigerians were suffering even as traders of perishable goods are daily losing their wares from low patronage.

Citing tomatoes as an example, El-Rufai said some sellers from the North who travelled to Lagos with their goods experienced wastage because buyers lacked the cash to purchase them.

Therefore, the governors appealed to the President to consider their request.

Asked about President Buhari’s response, he said the President did not reply with a “yes” or “no.”