The Council of State meeting presided over by President Muhammadu Buhari has thrown its weight behind the cashless policy recently introduced by the Central Bank of Nigeria (CBN).
The meeting which had in attendance erstwhile heads of state and president; Yakubu Gowon, Abdulsalami Abubakar, and Goodluck Jonathan, however, asked the CBN governor, Godwin Emefele, to ensure the new naira notes are available or recirculate the old notes to ease the current hardship in the country.
In a joint briefing after the hybrid meeting, the governor of Taraba, Darius Ishaku, hinted that the CBN’s policy was accepted by members.
He added that concerns were however raised about its implementation especially as the general elections draw nearer.
“The CBN was advised to make money available in quantum. The old money can also be recirculated to ease the suffering of the poorest of the poor,” Mr Ishaku.
The Council of state is an organ of the federal government saddled with the responsibility of advising the executive on policy making.
While former President, Olusegun Obasanjo, joined virtually, about 14 governors attended the meeting both physically and virtually with some represented by their deputy governors.
Others in attendance included Vice President Yemi Osinbajo, two fomer Chief Justices of Nigeria, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, among others.
Chairman of the Independent National Electoral Commission (INEC), Prof Mahmood Yakubu; the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and the Inspector General of Police (IGP), Alkali Baba, also joined the meeting.