Seven Reasons I Approved New Naira Policy – Buhari [Full List]

President Muhammadu Buhari has revealed what he wanted to achieve when he approved the new naira policy introduced by the Central Bank of Nigeria (CBN).

Naija News reports that the president gave seven reasons for the policy during a nationwide broadcast on Thursday morning.

See the seven reasons below:

In the short to medium and long terms, therefore, it is expected that there would be:

a. A strengthening of our macro economic parameters;

b. Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;

c. Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;

d. Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;

e. Exchange Rate stability;

f. Availability of Easy Loans and lowering of interest rates; and

g. Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.