President Muhammadu Buhari has backed the Central Bank of Nigeria (CBN) to phase out the current 200, 500, and 1000 naira notes by Tuesday, January 31.
The Presidency in a statement said Buhari insisted that the deadline is “aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding.
READ ALSO: Atiku joins Tinubu, others to protest ‘discomfort’ in CBN deadline for old naira notes
“This, he assured, will stabilize and strengthen the economy.”
Buhari’s stance opposes that of former vice president Atiku Abubakar, presidential candidate of the All Progressives Congress (APC) Bola Tinubu, and many Nigerians who complained that the new notes are…
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