The meeting of the Council of State presided over by President Muhammadu Buhari which held in Abuja on Friday has directed the Central Bank of Nigeria to either print new Naira notes to mitigate the scarcity in the system.
In the alternative, the Council, the highest advisory body in the country, urged the apex bank to re-circulate the old Naira notes to cushion the hardship faced in the country.
Top on the agenda of the meeting are the 2023 general elections and the on-going cash crisis occasioned by CBN’s naira redesign and cashless policy.
In attendance are Vice-President Yemi Osinbajo and former Heads of State, retired Gens. Yakubu Gowon and Abdulsalami Abubakar as well as former President Goodluck Jonathan.
The Senate President, Ahmad Lawan and Speaker, House of the Representatives, Femi Gbajabiamila, are also in attendance.
Governors of Lagos, Kaduna and Gombe states and those of Taraba, Kwara, and Borno are also in attendance alongside the deputy governor of Bauchi State.
Other governors joined the meeting online from their respective States.
Others attending the meeting are former Chief Justices of Nigeria, Alfa Belgore and Tanko Muhammad, the Secretary to the Government of the Federation, Mr Boss Mustapha and the Head of Service, Mrs Folashade Yemi-Esan.
INEC chairman, Prof. Mahmood Yakubu, the Inspector-General of Police, Mr Usman Alkali and the Commandant-General of the Nigeria Security and Civil Defence Corps, Mr Ahmed Audi, are expected to address the meeting.
CBN governor, Mr Godwin Emefiele, is also expected to brief the Council on the bank’s activities regarding the currency re-design and cashless policy.
The Council of State advises the Federal Government on policy issues.
The president, vice-president, governors, Secretary to the Government of the Federation, former presidents, former heads of state, former Chief Justices of Nigeria, President of the Senate and Speaker of the House of Representatives are members.
The Attorney-General of the Federation is also a member.