Naira Crunch: Again, Buhari Meets Emefiele in Aso Rock, Details Emerge
- Godwin Emefiele, the governor of the CBN, has met with President Muhammadu Buhari at the presidential villa in Abuja
- This is the third time the President and Emefiele will be meeting privately since the naira redesign policy plunged the country into cash scarcity
- Though details of the meeting were not disclosed, as Emefiele declined to speak with journalists, but it could be connected with the cash crisis plaguing the country
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FCT, Abuja - President Muhammadu Buhari has received Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), at the presidential villa in Abuja.
The apex bank governor met with the President in a closed door meeting for the third time since the escalation of the cash crisis across the country, The Nation reported.
Source: Twitter
Why Buhari met Emefiele at the Presidential Villa
Emefiele did not speak with journalists after he met with Buhari and the purpose of the meeting is not known but it is believed that it is connected to the naira scarcity problem currently bedevilling the country.
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There has been tension in the country since the apex bank unveiled the new naira notes in November 2022 and announced that the old N200, N500 and N1000 notes would no longer be legal tender on January 31.
Latest about President Muhammadu Buhari, Godwin Emefiele, CBN, 2023 election, naira redesign, naira scarcity
The situation became tense, and many found a means to return their money to the bank, even the unbanked. However, they could not get the new notes to replace the old ones saved in the banks.
The President then extended the deadline by 10 days while some governors challenged the policy at the Supreme Court.
Despite the Supreme Court's injunction on the further implementation of the policy, Nigerians could not access their monies, as banks closed many of their branches over protesters' attacks and they did not have the new notes to give to their customers.
Cash Crunch: Old man bursts into tears in bank, laments hunger, rains curses on CBN
Legit.ng earlier reported that the wave of naira scarcity in the country had hit the common man as an old man was seen bursting into tears inside a bank because he could not access his money.
While holding his walking stick, the old man cried that he has been hungry and could not cater for his needs because he could not access his money and the CBN was holding him to ransom.
Banks have closed many branches in Nigeria because of attacks from Nigerians who have money with them but could not access their money because of the CBN policy.
Source: Legit.ng
