Enemies of Nigeria Behind Naira Redesign - ADC Presidential Candidate

Posted by Thandiubani on Tue 07th Feb, 2023 - tori.ng

According to Yabagi Sani, the policy was introduced so that the 2023 elections will not hold.

The presidential candidate of the Action Democratic Party, Yabagi Sani has criticized the Central Bank of Nigeria's introduction of the naira redesign.

Faulting the policy, Sani said it was cooked up by enemies of Nigeria.

Sani said this when he appeared on Channels Television on Tuesday.

He further stated that the policy was introduced so that the 2023 elections will not hold.

The ADC candidate said, “It is only the enemies of the state that will introduce this kind of thing so that elections will not take place or when it takes place, it takes place under a situation that you can’t guarantee free, fair and credible election.

“I don’t know which country changes her currency within two weeks. In other climes, you allow the thing to go on and seamlessly, people are not taken into any difficulties. This is completely bad, the timing and everything you want to talk about it.

“You don’t dislocate their businesses when they are battling with poverty, insecurity and you now come and add this draconian law that has no meaning in terms of what you want to achieve.”

Sani added that the apex bank should have properly disbursed money to commercial banks across the country before coming up with the policy.

The ADC candidate’s remarks come two days after The PUNCH reported the presidential candidate of the Labour Party, Peter Obi, pleaded with Nigerians to bear with the Federal Government and the CBN over the pains caused by the naira redesign

He stated that currency redesign is not peculiar to Nigeria, adding that the policy comes with some pains but has benefits in the long term.

The CBN, on October 26, 2022, announced its plan to redesign the three banknotes. The president subsequently unveiled the redesigned N200, N500 and N1,000 notes on November 23, 2022, while the apex bank fixed a January 31 deadline for the validity of the old notes.

However many Nigerians across the country have continued to lament the scarcity of the notes.

Meanwhile, thirteen political parties out of the 18 political parties in Nigeria on Monday threatened to withdraw from participating in the 2023 general elections slated for February 25 and March 11, if the CBN extends the deadline of February 10 for naira swap.

Backing the policy, the coalition of chairmen of the political parties, who commended the President, Major General Muhammadu Buhari (retd), on the redesign of the N200, N500 and N1,000 banknotes, insisted that the policy must stand.