JUST IN: Council of State backs CBN’s naira redesign policy, but….

The Council of State meeting on Friday expressed approval for the Naira redesign policy of the Central Bank of Nigeria (CBN) as headed by its governor, Godwin Emefiele.

The meeting, presided over by President Muhammadu Buhari however called on the apex bank to make the new Naira notes widely available or recirculate the old notes to ease the scarcity of cash in the country and reduce the sufferings of Nigerians.

The meeting which had all living past presidents and heads of state in attendance, as well as governors from the 36 states said generally the policy was accepted by members but raised concerns about the implementations.