Kaduna State Governor, Nasir El-Rufai, has accused the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of introducing the naira redesign policy to help the opposition Peoples Democratic Party (PDP) win the 2023 general election.
El-Rufai said Emefiele deceived President Muhammadu Buhari and the Attorney General of the Federation (AGF), Abubakar Malami, on the implementation of the naira redesign policy.
The governor said this while speaking to journalists in Abuja on Friday shortly after the Supreme Court ordered that old N200, N500, and N1,000 notes remain legal tender till December 31, 2023.
Governor El-Rufai, who witnessed the ruling alongside his Kogi and Zamfara states counterparts, Yahaya Bello and Bello Matawalle, respectively, said: “Emefiele was appointed Central Bank Governor by the PDP originally. So, let’s not forget where he came from.
“He is the one that put this policy together to help the PDP win the 2023 general election and deceived the President into thinking that it is possible to withdraw N2 trillion from circulation and reprint everything in three months.
“No country in world history has done it.”
He further stated that the naira redesign policy was “their (Emefiele and Malami) revenge plan” for not clinching the APC’s tickets.
READ ALSO: Naira policy: APC calls for Emefiele, Malami’s resignation
While some persons had purchased the APC N100 million presidential form for Emefiele, Malami also picked the N50 million governorship form of the party for Kebbi State but they both withdrew from the APC primaries in 2022.
“He (Emefiele) deceived the President; he gave the President wrong information and the Attorney General of the Federation, Abubakar Malami.
“Unfortunately, we have to claim that, that one is from our party, supported this policy. And we know why. Go and look at the antecedents.
“These are people who want to run for President or governor in our party and didn’t make it. This is their revenge plan.
“Whether the Federal Government obeys the order or not is up to the Federal Government but I know President Muhammadu Buhari very well. He is a man that respects the law.
“Part of the reasons why I convinced my colleagues to go to the Supreme Court is that we are among the closest governors to the President and we wanted to show him if those closest to him disagree with him so publicly on a matter, then you need to reflect on it.
“President Muhammadu Buhari is a man that obeys the law. He may have been misguided by his advisers but now that the Supreme Court has spoken unequivocally, I am confident that all the orders have been complied with,” Governor El-Rufai added.
The Supreme Court, while nullifying the naira redesign policy on Friday, said it is an affront to the 1999 Constitution.
The apex court also ruled that the old N200, N500, and N1,000 notes should remain legal tender until December 31, 2023.
The CBN had extended the deadline for the validity of old N200, N500, and N1,000 notes from January 31 to February 10, 2023, following complaints by many Nigerians.
The Supreme Court, after a suit was filed by some states, held that the Federal Government, the CBN, and commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue.
Buhari later declared that the old N200 should be used with the new notes till April 10, 2023, while the old N500 and N1,000 notes ceased to be legal tender in the country.
The President also directed the CBN to recirculate only the old N200 notes.
It would be recalled that the CBN announced plans to redesign the currency on October 26, 2022.
It later set December 15 as the official commencement date for the circulation of the new naira notes, which President Buhari unveiled on November 23, 2022.
The CBN later issued a revised cash withdrawal policy, stating that cash withdrawals above N100,000 and N500,000 for individuals and corporate organisations will attract processing fees of five per cent and 10 per cent, respectively.
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