President Muhammadu Buhari is currently meeting with members of the Ad-hoc Committee of the House of Representatives.
The committee was formed to investigate the Central Bank of Nigeria’s (CBN) new Naira policy.
WITHIN NIGERIA learned that the meeting between lawmakers and President Buhari is taking place at the State House.
President Buhari’s meeting with lawmakers comes just hours after he addressed Nigerians about the challenges posed by the CBN’s policy.
Alhassan Doguwa, the chairperson of the ad hoc committee, is among those present.
Buhari Extends Usage Of Old 200 Naira Notes, Sets New Deadline
In a related development, President Buhari approved the continued use of the old 200 naira notes as legal tender until April 10th.
Buhari announced this in a nationwide broadcast on Thursday.
According to the president, the old 200 naira notes will be reintroduced into circulation.
Buhari said:
To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.
In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.