The National Council of State meeting ended in Abuja on Friday with members throwing their weight behind the redesigned Naira policy of the Central Bank of Nigeria, but advised that the apex bank intensifies measures at making the new notes available or recirculate old Naira notes to ease the hardship of Nigerians occasioned by the policy.
Former Heads of State General Yakubu Gowon, Abdulsalami Abubakar as well as former President Goodluck Jonathan were in attendance.
The hybrid meeting also had former President Olusegun Obasanjo joining virtually.
Others in attendance include the vice president, two fomer Chief Justices of Nigeria, The Attorney-General of the Federation and minister of justice, multiple state governors among others.
The meeting, the first in 2023 is coming on the heels of a twin crisis facing the economy: fuel scarcity and a cash crunch sparked by the naira redesign policy of the CBN just as the nation heads into a general election in 15 days.
The council of state is an organ of the federal government saddled with the responsibility of advising the executive on policy making.
The highest advisory organ which deliberated for over four hours also insisted that all is set for the general election to hold as scheduled in a safe atmosphere.
The council received briefings from the chairman of the Independent National Electoral Commission Mahmood Yakubu, the Inspector General of Police Usman Baba and Governor of the Central Bank of Nigeria Godwin Emefiele.
Adesuwa Omoruan
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This resolution has been my advice all along. That instead of the 3govs asking for retaining old notes, which has practically left people's hands, they should press for more supply of new notes.
The common masses have deposited their old notes in the bank. The issue is getting back the equivalent in new notes. Trust me, any Nigerian still holding the old notes now in millions should be among "those class" bedeviling us.
I concur with the Council's resolution. If the new ones can't be adequately supplied within a short time, then reissue the old that you've taken from us.
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