The Nigerian minister of finance, budget and national planning, Zainab Ahmad, has disowned the policy by the Central Bank of Nigeria (CBN) to redesign naira notes, claiming her ministry was not consulted.
The minister made this known while answering a question posed by Senator Opeyemi Bamidele (APC Ekiti Central) during the 2023 budget defence session with the Senate Committee.
The Senator noted that the announcement of the policy seemed to have have driven the value of the naira lower with dollar trading at 788 on the black market recently.
The minister however stated that she wasn’t involved in the process and had only found out via an announcement like everyone else.
“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 the naira against 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.”
Reacting to the minister, CBN Spokesman Mr. Osita Nwanisobi, expressed surprise, stating that due process was followed.
Meanwhile, a self proclaimed expert revealed that the CBN policy set to kick off on December 15th will deal with the rich of the society more.
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The Minister of Finance says the Finance Ministry wasn't consulted before the decision to change Naira notes was made. And they heard it like everyone else.
What sort of country is this? pic.twitter.com/6Ht4VsOpbO
— 20.10.2020 (@I_Am_Ilemona) October 28, 2022