New Naira Policy: Buhari Meets Reps Adhoc Committee

• Buhari is meeting with members of the House of Representatives Ad-hoc Committee to discuss the new Naira policy of the CBN.

• The committee was set up to investigate the policy.

• The meeting is taking place at the State House and the chairperson of the ad hoc committee, Alhassan Doguwa, is present.

EKO HOT BLOG reports that President Muhammadu Buhari is currently meeting members of the House of Representatives Ad-hoc Committee.

The committee was set up to investigate the new Naira policy implemented by the Central Bank of Nigeria (CBN).

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This online media platform learnt that the meeting between the lawmakers and President Buhari is being held at the State House.

President Buhari’s meeting with the lawmakers is coming hours after he addressed Nigerians on the challenges faced due to the policy of the CBN.

In attendance are the chairperson of the ad hoc committee, Alhassan Doguwa, amongst others.

In a related development, President Buhari on Thursday approved the continuous usage of the old 200 naira notes as legal tender until the 10th of April.

Buhari made this known in a nationwide broadcast on Thursday.

The president stated that the old 200 naira notes will be distributed back into circulation.

Buhari said: “To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.

FURTHER READING

• Possible Respite For Nigerians As Buhari Mulls Extending Validity Of Old Naira Notes – Report

• Lagos Govt To Prosecute Anyone Rejecting Old Naira Notes – Sanwo-Olu

• El-Rufai Gives Reasons For Rejecting Buhari’s Proposal To Extend Deadline For Old Naira Notes

“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.”

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