Naira Redesign: Masari Accuses Emefiele of Working Against APC’s Victory

• Warns traders against collecting old notes from terrorists for swapping

Francis Sardauna in Katsina

The Katsina State Governor, Aminu Bello Masari, has accused the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, of working against the All Progressives Congress’ (APC) victory in the forthcoming general election for introducing the naira redesign policy.

Masari, who disclosed this during an interactive session with Katsina traders at the Government House Wednesday, said the naira redesign policy might have been instituted by the CBN governor to scuttle elections and destabilise the APC-led government of President Muhammadu Buhari.

The CBN had announced the new naira notes policy on 26 October, 2022 and initially gave 31 January, 2023 as the deadline for the use of the old notes, but later extended it to February 10.

He claimed that Emefiele, who he accused of picking the presidential form of the APC during the last presidential primaries, might have chosen the naira redesign policy to discredit the party “since he didn’t win the ticket”, adding that the policy had brought untold hardship on Nigerians.

Masari, who described the nation’s apex bank policy as anti-people, insisted that the implementation of the policy was poor and the transition period was too short and saddened, vowing to rescue citizens of the state from the challenges ochestrated by the policy.

The former speaker of the House of Representatives further said he was surprised, shocked and disappointed over the inability of the CBN governor to obey the recent Supreme Court judgment on the new naira redesign policy.

He said: “You know the governor of the Central Bank contested APC primary election and he didn’t win. So, he is working against APC victory. He doesn’t know the hardship facing Nigerians as a result of the naira redesign policy: his house and even toilet is air-conditioning so he doesn’t know the problems of Nigerians.

“The naira redesign policy is good, implementation is poor. No transition: the transition period is too short and too saddened in a country where the informal sector is competing with the formal sector.

“I am really surprised, shocked and disappointed that the Supreme Court of Nigeria should give judgment of which the governor of the Central Bank refused to follow. Which country is this?. I called the CBN controller here in Katsina he told me he has not received any instruction from his headquarters. I talk to bank managers, their headquarters have not been contacted by the Central Bank.”

According to the governor, “And the attorney general of the federation has clearly made a statement that the government will respect the decision of the Supreme Court. Why is the governor of the Central Bank of Nigeria not respecting the decision of the Supreme Court? Who is he?

“I think something is wrong somewhere and I hope those who are responsible to take decision will take. And on our own part, we will do whatever it takes to help our people. We are here for them not them for us.”

Masari, who was visibly angry over what he termed untold hardship brought to citizens of the state by the CBN’s policy, vowed to lead all traders in the state to the state’s branch of the bank to enable them to swap the old naira notes with the new notes.

He, however, warned the traders and other citizens of the state against collecting old naira notes from terrorists for swapping with the new notes, adding that: “We will assist you but don’t take advantage of this to collect old naira notes from bandits for swapping.”

Speaking earlier, the Chairman of Katsina Central Market Traders, Abbas Labaran-Albaba, told the governor that they were at the Government House to seek his intervention on the challenges afflicting traders as a result of the naira redesign policy.

He thanked the governor for accepting to intervene, noting that traders will strictly adhere to government directive.