The Council of State meeting presided over by President Muhammadu Buhari on Friday gave its support to the cashless policy recently introduced by the Central Bank of Nigeria (CBN), but with a warning, that the CBN should make the new naira notes available or allow the old notes to recirculate in order to ease the pains on the masses.
The hybrid meeting which lasted for over four hours, had in attendance erstwhile heads of state and president; Yakubu Gowon, Abdulsalami Abubakar, and Goodluck Jonathan, however, asked the CBN governor, Godwin Emefele, to ensure the new naira notes are available or recirculate the old notes to ease the current hardship in the country.
Jointly briefing the newsmen after the meeting the governor of Taraba, Darius Ishaku, hinted that the CBN’s policy was accepted by members.
He added that concerns were however raised about its implementation especially as the general elections draw nearer.
“The CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor,” Mr Ishaku.
Former President, Olusegun Obasanjo, joined the meeting online.
Ex-Chief Justice of the Federation, Alfa Belgore and Mahmud Muhammad, were also in attendance.