On Friday, the National Council of State advised President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to either intensify the printing of new Naira notes or recirculate the old ones to ease the hardships caused by the policy.
The country’s highest advisory organ, the National Council of State, also insisted that the general elections will be held as scheduled based on the readiness of the Independent National Electoral Commission and the Nigeria Police.
The Minister of Justice and Attorney-General of the Federation, Abubakar Malami, disclosed this to State House correspondents after the four-hour hybrid meeting at the Aso Rock Villa, Abuja.
Malami said the council received a briefing from the chairman of INEC, the IGP and the CBN governor.
“The two major resolutions that were driven, arriving from the deliberations of the Council, are one, that we are on course as far as election is concerned and we are happy with the level of preparation by INEC and the institutions.
“Two, relating to the naira re-designed policy, the policy stands, but then the Council agreed that there is a need for aggressive action on the part of the Central Bank, as it relates to the implementation of the policy by way of ensuring adequate provision being made concerning the supply of the naira in the system,” the AGF said.
When our correspondent asked about the President’s response to the council’s suggestions, the Lagos State Governor, Babajide Sanwo-Olu, said it would be up to Buhari to decide “soon.”
Former Heads of State General Yakubu Gowon and Abdulsalami Abubakar and former President Goodluck Jonathan were present.
Former President Olusegun Obasanjo joined the meeting virtually. Only about 14 governors were present, both physically and virtually, some of whom were represented by their deputies.
Vice President Yemi Osinbajo, the Attorney-General of the Federation and Minister of Justice, and two former Chief Justices of Nigeria, among others, were also present.
The Council of State is an organ of the Federal Government of Nigeria, advising the executive on key policies.
It comprises the President as chairman, Vice President Yemi Osinbajo (deputy chairman), all living former Presidents and Heads of State, the President of the Senate, Ahmed Lawan, the Speaker of the House of Representatives, Femi Gbajabiamila, all 36 state governors, and Abubakar Malami, the Minister of Justice and Attorney-General of the Federation.
