Buhari declines APC govs’ request to allow old and new naira notes co-exist

President Muhammadu Buhari has declined the request of governors elected on the platform of the ruling party to allow the old and new naira banknotes co-exist until the former are phased out.

The governors under the Progressive Governors Forum (PGF) met with Mr Buhari on Friday at the Council Chamber of the Presidential Villa in Abuja.

The Nation Newspapers, quoting Governor Nasir El-rufai of Kaduna State, reported that the state helmsmen appealed to the Nigerian leader to allow the old and new banknotes to co-exist as legal tender.

Mr El-rufai who said the president did not oblique their request during the meeting noted that Atiku Bagudu, his Kebbi counterpart and chairman of the PGF has gone back to convince the president.

But in a statement released by presidential spokesman, Garba Shehu, the president promised to tackle the cash crunch in the country within the next one week which is the deadline for the collection of old banknotes by the Central Bank of Nigeria (CBN).

The statement indicates that while there might be changes in the policies, the extended deadline remains sacrosanct.

“Some banks are inefficient and only concerned about themselves”, said the president, “even if a year is added, problems associated with selfishness and greed won’t go away.

“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” Mr Buhari assured his visitors.