Economy

Naira Redesign: CBN did not consult us — Minister of Finance, Zainab Ahmed (Video)

Published

5 months ago

October 29, 2022

Minister of Finance, Budget and National Planning, Zainab Ahmed, has rejected a plan by the Central Central Bank of Nigeria (CBN) to redesign naira, warning the apex bank of its consequences on the country’s troubled economy..

Ahmed expressed her opposition to the policy in response to a question raised by Senator Opeyemi Bamidele during the 2023 budget defence session she had with the Senate Committee on Finance.

The Minister warned CBN of the consequences that may arise from the exercise.

Senator Bamidele had in his question, told the Finance Minister that barely two days after announcement of the policy by CBN , repercussions of it on the value of naira to US dollar was being felt .

Recall that the CBN Governor, Godwin Emefiele had Wednesday dropped the hint, revealing that the incoming exercise would redesign the Nigerian currency, starting from N200 denomination to N1,000 notes

Minister of Finance chides CBN Governor, Godwin Emefiele, for not consulting her Fiscal authority. This drama depicts how Buhari destroyed your Economy. Naira is now N785, after the Monetary authority announced the planned redesign. LCCI said Naira free fall will continue. 💔😭 pic.twitter.com/FA9bsaeW9i
— NEFERTITI (@firstladyship) October 29, 2022