“…the policy as rolled out at this time, portends serious consequences on the value of Naira to other foreign currencies.”
*Photo: Ahmed *
Minister of Finance, Zainab Ahmed on Friday said her Ministry was not consulted and carried along in the plan by the Central Bank of Nigeria to redesign the Naira notes.
The Shield Online reports that Ahmed made the shocking revelation at the Senate during the budget defence.
Reacting to a question by Senator Opeyemi Bamidele, who had demanded from the Minister why the decision was impacting so immediately and negatively on the Dollar-Naira exchange rate, the Minister said “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.
The CBN Governor, Godwin Emefiele had Wednesday told Nigerians of plans to redesign the higher of the Nigerian currency, namely the N200, N500 and N1,000 notes.
The CBN Governor said president Muhammadu Buhari had already approved the project.