Two days after the Central Bank of Nigeria, CBN announced planned redesign of the naira the minister of Finance, Budget and National Planning, Zainab Ahmad, has rejected the idea, warning that it will have a devastating effect on the economy.
Zainab who totally disowned the policy during budget defence at the Senate, said there would be severe consequences.
READ ALSO : Zainab Ahmed, Buhari’s finance minister swimming in corruption with Impunity.
The CBN governor, Godwin Emefiele on Wednesday announced the introduction of newly designed notes of N200, N500 and N1,000.
He said the new naira notes would be in circulation by December 15, 2022 adding that the old notes remain valid until January 31, 2023.
He advised holders of the old naira notes to return them immediately without bank charges.
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