President Muhammadu Buhari, on Sunday, said he did not consider the period of three months for the change to the new naira notes as being short.
The President who defended the move of Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes, affirmed that the move had his support and is convinced that the nation will gain a lot by doing so.
A statement signed by Media Aide to the President, Garba Shehu quoted President Buhari as saying, ”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all.”
The President Buhari said reasons given to him by the CBN convinced him that the economy stood to benefit from reduction in inflation, currency counterfeiting and the excess cash in circulation.
The President made his thoughts known in a radio interview with the famous journalist Halilu Ahmed Getso, and Kamaluddeen Sani Shawai to be aired Wednesday Morning on Tambari TV on Nilesat.
In the interview, the President also addressed issues of food security and national security, among others.