Finance ministry not aware of naira redesign by CBN — Minister
BARELY Forty Eight hours after the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele announced that the apex bank would redesign the country’s currency notes of N200, N500 and N1000 to take effect from December 15 2022, the Federal Government said that it was not aware of the bank’s policy. Minister of Finance, Budget and National Planning, Zainab Ahmad who commented on the policy, during the 2023 budget defence session she had with the Senate Committee on Finance, however said that if implemented, it portends great consequences for the nation and its economy. She then warned CBN of consequences that may arise from it. Senator Opeyemi Bamidele (APC Ekiti Central) had during the session told the Finance Minister that barely two days after announcement of the policy by CBN, repercussion of it on the value of Naira to US dollar was being felt. He said, “ just two days after announcement of the policy, value of Naira to a US dollar has risen from N740 to N7...