The Nigerian Senate President, Godswill Akpabio, has raised concerns about the redesigned Naira notes introduced by the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, prior to the last general elections, suggesting that they were intended to disrupt the conduct of the polls.
During the screening of Olayemi Cardoso, a nominee for the position of CBN governor, and four deputy governor nominees for the apex bank, Akapbio inquired if Cardoso would follow in his predecessor’s footsteps by involving himself in politics.
While not mentioning Emefiele by name, it was apparent that Akpabio was referring to him. He questioned Cardoso, saying, “CBN Governor, will you uphold the integrity, steadfastness to resist when politicians come to you to join the presidential race and display your posters even as a sitting CBN Governor in political conventions?
“Will you rush to display your profile electronically at political conventions while sitting as a governor because politicians have told you that you have enough money in CBN to do it?
“Don’t forget the fact that the money in the Central Bank isn’t for you. Will you have the courage to resist the temptation to listen to politicians and throw your hat into the ring and go back to your office and sit as CBN governor?
“Will you rush to sabotage the election in Nigeria by going for new notes, two days to the election when no country in the world changes new notes within one year, you do your own in 14 days or 11 to see how you can sabotage the election in Nigeria?”
Former CBN Governor Emefiele had announced the redesign of N200, N500, and N1000 naira notes in October 2022, with the old naira notes set to remain legal tender until January 31, 2023. The redesign was aimed at several objectives, including transitioning the country from a cash-based to a cashless economy, as a significant portion of the currency was circulating outside the banking system.
However, the currency redesign policy had unintended consequences, resulting in hardships for citizens.
| Sahara Reporters
