Naira Scarcity: CBN Gov, Emefiele Should Go Now – Tinubu’s Aide Tells Buhari

The Director of Media and Publicity for the All Progressives Congress (APC) presidential campaign council (PCC), Bayo Onanuga, has asked President Muhammadu Buhari to suspend the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, immediately.

The top aide to the APC presidential candidate and president-elect, Bola Ahmed Tinubu, said Emefiele does not deserve more time as CBN governor after watching Nigerians suffer with the implementation of his naira redesign and cash swap policy.

Naija News reports that the CBN’s new policy caused Naira scarcity across states, adding more to the challenges already faced by the citizens.

Though the policy, in its written form, promised a better improvement of the country’s economy and also assured of reducing electoral fraud by frustrating the activities of vote buyers in the 2023 general elections.

Unfortunately, the naira policy has inflicted more pain on Nigerians than the promised relief. Taking to his Twitter page on Tuesday in reaction to the new directive by the CBN, Onanuga said Emefiele should be sent out of office after scrapping the cashless policy.

“I am surprised Godwin Emefiele is still sitting pretty in office, without contrition, after he was forced to scrap his ghastly cashless policy.

“President Buhari should suspend him from office. Emefiele should go NOW,” the APC chieftain tweeted.

CBN Gives Directives On Old Naira Notes Hours Buhari’s Statement

After a series of lamentations by Nigerians, the CBN on Monday announced that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.

The apex bank’s decision is coming days after the Supreme Court ruled that the old notes should remain in circulation till the 31st of December, 2023, Naija News reports.

The CBN, however, released a statement hours after President Muhammadu Buhari insisted that he did not order the CBN Governor, Godwin Emefiele or the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, to disobey the apex court’s ruling.

The CBN spokesperson, Isa Abdulmumin, in a statement released on Monday, insisted that the old notes remain legal tender.

He said, “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly.”