Business
Shehu Sani reacts to plan to redesign national currency
Shehu Sani, a former Kaduna senator, has reacted to the plan to redesign the national currency.
The Central Bank of Nigeria announced on Wednesday, October 26, 2022, that some naira notes will be redesigned. The affected notes include 200, 500, and 1000 naira notes.
The new policy will take effect on December 15, 2022, and the old naira notes will be removed from circulation by January 31, 2023.
The governor of the CBN, Godwin Emefiele, disclosed this at a press conference in Abuja.
The action was taken in order to take control of the currency in circulation, according to the CBN boss.
Emefiele said that President Muhammadu Buhari has given the central bank permission to replace the currency in circulation with new notes.
In reaction to the news, Shehu Sani said, “He changed the national currency in 1984; he is changing the national currency in 2022 and for the same reason.”
President Muhammadu Buhari was the military head of state when the currency was changed in 1984.
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