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I’ll review Buhari’s Naira redesign policy – Tinubu



President Bola Ahmed Tinubu at his inaugural speech yesterday, promised to review the Naira redesign policy of his predecessor, Muhammadu Buhari.

Tinubu who noted that the new and old currency notes would be treated as legal tender, added that the Central Bank of Nigeria must work towards a unified exchange rate.

Meanwhile, James Faleke, the All Progressives Congress (APC) presidential campaign council secretary has said that Tinubu will unveil members of his cabinet within 60 days.

Speaking to Channels Television at Eagle Square where Tinubu was sworn-in, Faleke said that the new President will act differently in accordance with his mantra of ‘Renewed Hope’.

He said; “Of course, within 60 days, that’s what the law says. He can announce anytime but I just know he must do it within 60 days.”

He said, “Monetary policy needs thorough house cleansing. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.

“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level. Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.

“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”

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