The Council of State has thrown its full weight behind the new naira redesign policy introduced by the Central Bank of Nigeria CBN, late last year.

The National Council of State, which is the highest policy advisory body in the country is made up of the President, Vice-President, Secretary to the Government of the Federation, former Presidents, former Heads of State, former Chief Justices of Nigeria, Senate President, Speaker of the House of Representatives, Governors of the 36 states of the federation and the Attorney-General of the Federation.

Recall the President Muhammadu Buhari had convened an emergency meeting of the Council, particularly over the crisis generated by the CBN’s new naira redesign policy, which made three state governments comprising Kaduna, Kogi and Zamfara States to drag the Federal Government before the Supreme Court to seek its cancellation.

Members of the council at the meeting, which held Friday at the presidential villa and was presided over by President Buhari, however urged the CBN Governor, Godwin Emefiele to endeavor to make the new currency notes available or recirculate old notes to ease the suffering of Nigerians.

Present at the meeting were, Governor Darius Ishaku of Taraba; Governor Babajide Sanwo-Olu, of Lagos State as well as the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who jointly briefed state house correspondents on the outcome of the meeting.

They said although the council of state backed the CBN policy, the members expressed concerns over its implementation and sought ways of cushioning some of its adverse effects.

“The CBN was advised to make money available in quantum. The old notes can also be recirculated to ease the suffering of the poorest of the poor”, Governor Ishaku said.

Meanwhile, Chairman of the Independent National Electoral Commission INEC, Prof Mahmood Yakubu and the Inspector-General of Police IGP, Usman Alkali Baba, were also said to have briefed the council on preparations for the elections, which begin February 25, 2023.

Commenting on their briefing, the Attorney-General said: “We are on course as far as election preparedness is concerned.”

Also in attendant were former President Goodluck Jonathan, former Heads of State, General Yakubu Gowon and General Abdulsalami Abubakar, while former President Olusegun Obasanjo joined the meeting virtually.