New Notes: Tinubu hails APC govs for saving Nigerians from Buhari regime’s ‘fire-brigade’ policy

Mr Tinubu Nigerians were bearing the brunt of the policy because it was poorly implemented.

News Agency of Nigeria • February 8, 2023

Bola Ahmed Tinubu [Credit: BAT]

Bola Tinubu, the APC presidential candidate, says the Supreme Court ruling on the implication of the Central Bank of Nigeria (CBN) redesigned naira notes and cashless policy has saved Nigeria from political and economic shutdown.

Mr Tinubu, in a statement issued by Bayo Onanuga, a spokesperson for the APC Presidential Campaign Council (PCC) on Wednesday in Abuja, hailed APC governors for standing on the side of Nigerians over the policy.

According to the former two-term Lagos State governor, Nigerians were bearing the brunt of the policy because it was poorly implemented.

“The governors have saved the country from needless political and economic crises and miseries,” the statement quoted Mr Tinubu as saying.

The Supreme Court, in a lawsuit by the governments of Zamfara, Kogi and Kaduna States, gave an interim injunction against the CBN and federal government.

“Our country was dangerously careering toward anarchy and political and economic shutdown.

“But with the Supreme Court interim ruling, our country has been pulled back from the precipices.

“We thank our Supreme Court justices for ruling wisely on the side of the people who have been subjected to undue agony and pains since this policy was announced,” Mr Tinubu said.

He noted examples of other countries that had successfully and seamlessly changed their currencies to learn from.

He said such countries gave a long time, at least 12 months, to effect the currency change, adding that ” they do not engage in CBN-like Fire Brigade approach.

“We have seen how a good policy can be poorly implemented to cause unintended problems for the people who should be the beneficiaries.”

He noted that the Supreme Court ruling coincided with the advisory of the International Monetary Fund (IMF), urging for the extension of the deadline for the swap of the old naira notes.

Mr Tinubu further stated that he was vying for the presidential seat to improve Nigerians’ lives.

He called on the CBN to ensure that the Supreme Court ruling was effectively executed by taking all necessary steps.

(NAN)

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