The Northern Elders Forum (NEF) says President Muhammadu Buhari is unwilling to rein in the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele so that old and new N200, N500 and N1,000 notes would co-exist for the next six months to alleviate the suffering of the masses.
The group also said the naira redesign policy of the CBN and its attendant cash crunch demarkets the ruling All Progressives Congress (APC) in the forthcoming February 25 and March 11, 2023 general elections.
NEF Spokesman, Hakeem Baba-Ahmed stated this on Tuesday on The 2023 Verdict, Channels Television’s special election programme.
He said the President should not have allowed this kind of “fiasco” to come into play in the last days of his eight-year administration and on the “eve of an election when you are actually campaigning to have your own party voted for’.
“This money thing is a major demarketing thing for the APC,” Baba-Ahmed said.
“If the worst enemy of APC had design strategy for them to lose this election, he couldn’t have chosen a better fiasco around the reprinting of the naira.”
