…Attributes loss to main reason for ‘lackadaisical implementation of naira swap policy’
SHARE THIS
–Pix(above, L-R): Gov Abdullahi Ganduje and CBN Gov Emefiele
Governor Abdullahi Ganduje of Kano State has attributed the CBN Governor Emefiele’s loss of his presidential bid to main reason for the apex bank’s ‘lackadaisical implementation of naira swap policy.’
He, particularly, accused Emefiele of using the untimely implementation of the naira swap policy as a fightback strategy for failing to get the presidential ticket of the ruling All Progressives Congress (APC).
Ganduje, who spoke on the occasion of unveiling the Kano gubernatorial candidate and other APC candidates, yesterday, stated this at a campaign rally in Tsanyawa downtown of Kano.
According to him,the CBN Governor was only out to sabotage the success of the ruling party’s presidential candidate, Asiwaju Bola Ahmed Tinubu.
At the palaces of the District Heads of Kunchi and Tsanyawa Local Governments, the governor urged community leaders to create awareness within their jurisdictions to “let people know that the hardship people are facing is singlehandedly caused by the CBN governor, to purposely cause confusion in our democratic process.”
“The CBN Governor is only doing this to cause confusion in the forthcoming elections for no just reason.
“He has not been in good mood for long because he failed to secure a presidential ticket on the platform of our great party, the APC.
“Currency redesign is done across the globe, but not in the way we are witnessing in our country. The timing is wrong, the deadline given is very wrong and deliberate,” Ganduje squealed.
The governor said the Kano State Government and APC in the state are totally against the CBN Governor’s action, saying the Kano State Government will invite bank managers in the state to explain why there is growing scarcity of banknotes, “as part of measures to cushion the effects of the hardship caused by the naira swap.”
“We will summon bank managers very soon to interrogate them on the shortage of the new naira notes in banks.
“They should come over and explain to us why our people are still suffering over this issue of Naira Swap. And I will go to them individually to supervise what is happening and why,” he said.
The State Online had earlier reported that President Muhammadu Buhari had revealed that the Central Bank of Nigeria (CBN) has his full support on the controversy raging between the apex bank and the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on the decision to redesign and introduce new naira notes. He said he approved the policy because he was convinced it is in national interest.
Recall that Ahmed had sparked controversy as a guest of the Senate Committee on Finance during the 2023 budget defence session when she declared that she had no knowledge of CBN’s decision to redesign the nation’s currency.
Ahmed had said: “Distinguished Senators, we were not consulted at the Ministry of Finance by the CBN on the planned naira redesigning and cannot comment on it as regards merits or otherwise.”
But responding to the Finance Minister’s claim in an interactive session with some newsmen in Abuja soon after, CBN’s Director, Corporate Communications, Mr. Osita Nwanisiobi, said the policy was approved by President Muhammadu Buhari even in writing.
Nwanisiobi said: “The CBN remains a very thorough institution that follows due process in its policy actions.
“The Management of the CBN, in line with provisions of Section 2(b), Section 18(a), and Section 19(a)(b) of the CBN Act 2007, had duly sought and obtained the approval of President Muhammadu Buhari in writing to redesign, produce, release and circulate new series of N200, N500 and N1,000 banknotes,” noting that “currency management in the country had faced several escalating challenges which threatened the integrity of the currency, the CBN, and the country.”
Also, in a statement by Buhari’s Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, the President said the only people who have something to lose will be those with illicit money hidden away, not those involved in legitimate businesses and workers.
The State Online further quoted Garba Shehu as having said: “President Muhammadu Buhari said that the decision of the Central Bank of Nigeria (CBN) to launch new designs and replace high value Naira notes had his support and is convinced that the nation will gain a lot by doing so.”/SHARE THIS
- Tags: Gov Abdullahi Ganduje, PMB, Godwin Emefiele, CBN