May 11, 2026

Buhari Chairs National Council of State Meeting on Naira Redesign and Currency Swap

By Muhammad A. Aliyu

On Friday, President Muhammadu Buhari presided over the National Council of State meeting to address the ongoing concerns about the recent redesign of the naira and the currency swap.

The meeting was attended by former Presidents Goodluck Jonathan, Yakubu Gowon, Abdulsalami Abubakar and Olusegun Obasanjo, who participated virtually, as well as several other high-level government officials.

At the meeting, Vice President Professor Yemi Osinbajo, President of the Senate Ahmad Lawan, Speaker of the House of Representatives Femi Gbajabiamila, and several governors, including Nasir El-Rufai, Babajide Sanwo-Olu, and Babagana Zulum, were present. Other governors, including Ademola Adeleke, Yahaya Bello, and Aminu Tambuwal, participated virtually.

The meeting also saw the presence of the Minister of the FCT, Mohammed Bello; Secretary to the Government of the Federation, Boss Mustapha; Attorney General of the Federation and Minister of Justice, Abubakar Malami; and the Governor of the Central Bank of Nigeria, Godwin Emefiele.

The INEC Chairman, Mahmood Yakubu, was physically in attendance and is expected to provide the council with an update on preparations for the 2023 elections.

The Service Chiefs and Heads of security agencies were also physically present at the meeting.

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