The National Council of State in its meeting on Friday advised the CBN Governor, Godwin Emefiele, to re-circulate the old notes or make new notes available, to ease the hard times Nigerians are facing as a result of the scarcity of naira.

Malami stated that “…the Council agreed that there is need for aggressive action on the part of the Central Bank, as it relates to the implementation of the policy by way of ensuring adequate provision being made with regards to the supply of the naira in the system,”

Governor Ishaku also said “… But the major issue across board, from all the states and most of the speakers, is that of implementation. So many views were proffered, particularly that the CBN governor should look into making sure that the new money is available in quantum.

There were suggestions too that if the new money is not in circulation or printing them could be difficult, the old money that hasn’t been changed could be re-circulated and pumped into circulation to ease the tension, particularly for the poor people in our society, who will just need a little sum of money to buy their food, buy their drugs, on a daily basis and they cannot even afford it.”

According to Ishaku, there will be relief in the coming days as the Federal Government is expected to take action on the matter. In his words “So, the pains and the sentiments across the country are being expressed by different governors, my colleagues. And I think, collectively, all these ideas are to proffer solutions and advice to Mr. President who was there physically. He was present! So, I’m sure that after this meeting, a lot of things will be done, particularly in easing the monetary tension in society.”

The Senate President, Ahmad Ibrahim Lawan addressed journalists after the meeting and disclosed that the view of the Senate was that the old and the new naira notes should co-exist and remain legal tender until the old is phased out, but CBN should produce more of the new currencies.

READ ALSO: Banks Shut Down As CBN Deadline Ends