There appears to be a crack in the Federal government over decision to change the naira.
CBN moves to redesign Naira
Pointer to this emerged as Minister of Finance, Zainab Ahmed on Friday told the Senate that the Federal Government was not consulted and carried along in the plan by the Central Bank of Nigeria to redesign the Naira notes.
She was speaking before members of the Senate at the budget defence where she was asked over the impact of the plan to change Naira notes at this time.
“Distinguished Senators, we were not consulted at the Ministry of Finance by CBN on the planned naira redesigning and cannot comment on it as regards merits or otherwise.
“However as a Nigerian privileged to be at the top of Nigeria’s fiscal management, the policy as rolled out at this time, portends serious consequences on the value of Naira to other foreign currencies.
“I will however appeal to this committee to invite the CBN governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now,” she said.
Her statements were in response to Senator Opeyemi Bamidele, who had demanded from the Minister why the decision was impacting so immediately on the Dollar-Naira exchange rate.
NPO Reports that the CBN Governor, Godwin Emefiele had Wednesday told Nigerians of plans to redesign the Nigerian currency, starting from N200 denomination to N1,000 notes.
Since his announcement, the matter has generated huge reactions.
