Senator Bola Tinubu’s presidential spokesman, Dr Josef Onoh has described the prevailing Naira scarcity in the country as a policy solely trumped up by the governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, from an aggrieved concept to derail the political process after he failed to achieve a presidential aspiration.
Onoh said that the Naira redesign was not an All Progressives (APC) policy but a brainchild of Emefiele that is now detrimental to the nation’s economy, advising that the country should copy the British model of gradual currency withdrawal for at least 12 months.
The new British notes are expected to enter circulation by mid-2024, where all polymer banknotes carrying a portrait of the late Queen Elizabeth II remain legal tender, and the public can continue to use them as normal.
New British notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes, while notes featuring Queen Elizabeth II and King Charles III will therefore co-circulate People will be able to use these new notes as they start to enter circulation in 2024.
Onoh stressed that the timing for the naira redesign and withdrawal of old notes under an election period was wrong and a wicked policy of Emefiele to punish Nigerians for his failed ambition to become a President of Nigeria.
He cited instances of the crises so far caused by the new naira notes scarcity to include protests, illegal sales of the new notes, possession of the notes by terrorists against Nigeria security officers, transport and other social service hiccups.
He said that it was unfortunate that the Nigerian government appointed someone whom it believed was competent to drive the financial sector but has turned out to be a mistake since the CBN Governor turned into a politician who harbours emotions of unattained desire.
Source: The Guardian
