The Deputy Director, Media, All Progressives Congress, Independent Presidential Campaign Council (APC PCC) Adamu Garba, said the Central Bank of Nigeria, CBN should apologise to Nigerians over the hardship occasioned by the widespread scarcity of the naira notes.
Adamu stated this in an interview on Channels Television’s “The 2023 Verdict on Tuesday.
He said, “I believe that the Central Bank owes Nigerians an explanation properly, and an apology and transparency,”
“These things are very clear. This is the situation that we have in the country and we need transparency.
“We need to understand how much goes to each of the banks so that Nigerians can be able to channel their own energies to go where they need to access cash.”
Adamu, however, absolved President Muhammadu Buhari of blame, saying the policy is well-meaning.
Asked further about the President’s share in the blame, given a similar policy was implemented in 1984 during his military government, Adamu argued that Buhari meant well for Nigeria when he took the decision four decades ago.
“And this same time, he also meant well for Nigeria,” he said. “The policy itself was not a bad deal. We’re transitioning from a normal cash economy to a Central Bank digital banking system.”
Adamu described the naira swap policy as “completely revolutionary” which he said would help Nigeria.
According to him, it is the implementation process is problematic “and the organ responsible for the implementation is the CBN.”
Recall that following the redesign of the N200, N500, and N1,000 banknotes in November 2022, Nigerians deposited their old currencies in line with the initial January 31 deadline, which the apex bank later extended to February 10.
However, an interim injunction granted by the Supreme Court restrained the CBN from carrying out the implementation.
The hearing on the matter has now been postponed to February 22.
Discussion about this post