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Naira Scarcity: The 2023 Election Might Be Jeopardized – House Of Reps Warn Buhari




House Of Reps Fixes Date To Screen NDDC Board, Management

The House of Representatives has informed President Muhammadu Buhari that the cash swap policy which has led to serious economic hardship for the citizenry might affect the smooth conduct of the general elections.

The House insisted that the Federal Government must come up with a solution to provide respite for the economic hardship plaguing the nation.

Speaking via a statement made available to Naija News on Friday, the Chairman of the House adhoc Committee on the redesigned currency and House Leader, Alhassan Ado Doguwa said that the committee told the president on Thursday that disallowing the use of N500 and N1000 notes will not help the suffering masses.

The lawmakers had met with the President hours after his nationwide broadcast, where he declared that N200 note would remain legal tender till April 10.

Doguwa, while appreciating the president for his timely intervention, maintained that more has to be done to mitigate the suffering of the masses.

He said “The steps taken so far by Mr. President leave much to be desired. The policy is at this time very unpopular and is capable of creating a crisis in the country that could jeopardize the upcoming general elections.

”Mr. President may of course had good intentions in using the policy to tackle insecurity, reduce corruption and engender the global best practice in fiscal policy management but unfortunately due to wrong timing, and the work of some criminal elements in both the CBN and the commercial banks, Nigerians are left suffering”.