Naira Redesign Is Targeted At Opposition Parties But It Won’t Stop Vote Buying – Deji Adeyanju

Abuja-based socio-political activist, Deji Adeyanju has alleged that the redesigning of the naira notes by the Central Bank of Nigeria (CBN) is a policy targeted at the opposition political parties.

According to him, even though the policy would boost the economy, its urgent implementation was to frustrate opposition political parties from moving money around as the election inches closer.

Naija News reported three weeks ago that the governor of the CBN, Godwin Emefiele, announced the apex bank’s plan to release re-designed Naira notes by December 15, 2022, adding that the old naira notes would cease to be legal tender from January 31, 2023.

Naija News reports that Adeyanju, however, told Daily Post that the new naira note policy would not reduce vote-buying during next year’s election, adding that “politicians always have a way around these things.”

He went ahead to note that “heartless animals refused to help the poor, but Emefiele has forced them to bring out all the money.

“The redesigning of the naira looks like it’s targeted against opposition political parties because once money goes into the system, it’s the government that determines how much you can get out of the system.

“Yes, it’s a fantastic idea of boosting the economy, knowing that so many looters have physical cash in their hands, so we can now see how smart it is for CBN to have taken such initiative.”

Naija News gathered that the activist however opined that the CBN should have waited till elections are over before implementing the policy, noting that there was no need to rush its implementation like that.

“I do not see the urgency and the spread right before the election. It’s even advisable for CBN to show goodwill by letting the policy take effect after the election, so it’s not seen as a political thing.

“This will show transparency and that they are not targeting anyone, and they are not available to be used as a willing tool by the incumbent party against the opposition.

“It’s a good policy; however, the ideal thing is for the CBN to wait until after the elections to mop up and release the new notes,” Adeyanju submitted.