A former Director of Currency Operations at the Central Bank of Nigeria , Mr Ahmed Umar, on Tuesday told a FCT High Court that the minutes of the meeting of CBN management on Naira redesign was not sent to him.
When asked to comment on an Oct. 26, 2023, Meeting of the Committee of Governors of the CBN, he said:”the minutes of the meeting was only circulated among members of the CoG”. The witness added that the CoG which comprises of the CBN governor as chairman and four deputy governors as members, on Oct. 26, 2022, held a meeting via zoom to deliberate on the memo his department submitted.Umar further disclosed that after the meeting the Corporate Affairs Department conveyed anticipatory approval of the CoG pending ratification by the Board of Directors .
On the procedure for the issuance of naira notes, the witness stated that the BoD will have to recommend to the president for the design of the forms and devices that shall be contained in the currency.The witness will continue his evidence on Wednesday.