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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.

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