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Buhari Opens Up On Naira Notes Scarcity

President Muhammadu Buhari has finally broken silence on the new Naira notes scarcity.

Buhari, in a statement by his spokesman, Malam Garba Shehu, said:

“The currency re-design will give a boost to the economy and provide long-term benefits.”

“Some banks are inefficient and only concerned about themselves. Even if a year is added, problems associated with selfishness and greed won’t go away.”

“I have seen television reports about cash shortages and hardship to local businesses and ordinary people. I assure that the balance of seven of the 10-day extension will be used to crack down on whatever stood in the way of successful implementation.”

“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension.”

“When I considered giving the approval to the policy, I demanded an undertaking from the CBN that no new notes will be printed in a foreign country and they gave me assurance that there was enough capacity, manpower and equipment to print the currency for local needs.”

“I need to go back to find out what is actually happening. Being closer to the people, I have heard their cries and will act in a way that there will be a solution.”

Buhari made the statement when the Progressive Governors Forum (PGF) visited him at the Presidential Villa, Abuja on Friday, February 3rd, 2023 to seek solutions to the cash crunch.

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