Politics
Naira redesign senseless, Buhari wrongly advised — Oshiomhole
The former National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, on Sunday accused the Central Bank of Nigeria (CBN) of deceiving President Muhammadu Buhari on the redesign of the naira notes.
President Buhari had last year approved the redesign of the N200, N500, and N1,000 notes.
However, the policy had caused hardship for Nigerians over the failure of commercial banks to make the new notes available to the public.
Oshiomhole, who spoke in a Channels Television’s programme, 2023 Verdict, insisted that the policy was ill-timed.
The former Edo State governor added that the apex bank wrongly advised the president on the “senseless” policy.
He said: “CBN just woke up to say they have redesigned the currency. There was no consultation, not even within the government. At least, the minister of finance cried out and warned of economic consequences.
READ ALSO: ‘Naira redesign, scarcity, affecting military operations, troops’ —Ndume
“As I have argued, it’s not only about the fact that the CBN had acted within the law. We’re taught in basic leadership that whoever is in power should pray for wisdom. It is wisdom that will make you recognize that you can change a policy overnight for a population of 200 million.
“So, I can guess I was not there, that in obtaining the approval, I believe the CBN deceived the president by amplifying the need to have corruption-free electioneering as if election is the only project this president has a responsibility for.”
Oshiomhole argued that the CBN convinced President Buhari that reducing vote-buying through the naira redesign would catch dishonest politicians off guard.
“The President Buhari that I know will have no difficulty in agreeing. You could see that the intention of the Bank is not to eliminate abuses but to stop the elections from taking place,” he concluded.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...