Ethnic Youth Leaders urge CBN Gov to ignore Finance Minister over new Naira notes

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Following outburst by the Minister of Finance, Zainab Ahmed that the move by the Central Bank of Nigeria, CBN to redesign the Naira could have dire consequences on its value, a group known as the Ethnic Youth Leaders has called on the Apex bank to ignore the Minister’s assertion and go ahead with its decision to launch the new notes on December 15.

The group who made the call in a statement by its convener Comrade Meliga, described the Minister’s statement as reckless and a plot to undermine President Muhammadu Buhari.

The group insisted that the decision to redesign the Naira is a welcome development as it was a way to withdraw currency from circulation, and also a way of tightening the money supply in the face of rising inflation.

The group therefore urged the Finance Minister to apologise to Buhari, CBN over the alleged reckless attack on New Naira note issue.

“The Minister of Finance, Budget and National Planning, Zainab Ahmed on Friday declared that the Central Bank of Nigeria (CBN) did not carry her Ministry along in its plan to redesign and roll out new N200, N500 and N1000 notes effective December 15.as announced last Wednesday.

“We are of the view that the CBN doesn’t need to notify her ministry, in line with the law. The decision to replace some Naira denominations with new ones would be positive for the economy in the medium- to long-term. The Finance minister need to quickly tender a public apology to Buhari, CBN over the reckless attack on New Naira note issue”, the statement read.