As the scarcity of new naira notes continues to stifle economic activities Country wide, Kano state governor Abdullahi Ganduje has as weighed in on the unhealthy development.
Governor Ganduje alleged that some opposition political parties are seeking to disrupt the democratic transition while hiding behind the naira redesign policy introduced by the central bank.
Referring to the suit filed by four political parties seeking a non-extension of the deadline for withdrawing old narrow notes from circulation, Governor Ganduje accused the parties in collusion with the PDP of attempting to sabotage the country’s democracy.
The Kano State Government has also filed a suit against the Federal Government at the Supreme Court in respect of the naira redesign policy of the Central Bank of Nigeria.
The Kano State Attorney General, through his counsel, Sunusi Musa, SAN, is asking the apex court to declare that President Muhammadu Buhari cannot unilaterally direct the CBN to recall the now-old N200, N500, and N1,000 banknotes without recourse to the Federal Executive Council and National Economic Council, respectively.
The Kano government is praying for a mandatory order seeking a reversal of the Federal Government’s policy to recall the N200, N500, and N1,000 notes from circulation due to the policy affecting the economic well-being of over 20 million Kano citizens.
Speaking on Journalists’ Hangout, Associate Editor, The Nation, Adekunle Yusuf said the government has good intention but with poor implementation.
According to him, the naira redesign is the best thing that has happened in the Buhari’s administration but ordinary Nigerians are the ones bearing the brunt of the CBN’s policy which has been poorly implemented.
Veteran Journalist, Babajide Kolade-Otitoju stated that a lot of things has changed since 1984 to this time especially as the country now has over 200 million people.
He noted that the level of success recorded with implementation of policies cannot be achieved in this present day as the country has grown bigger beyond what it used to be.
He added that Nigerian leaders do not take into consideration problems associated with policies before implementation.
Mr. Yusuf added that with the current situation and what Nigerians have faced in the last weeks, the country is not ready to go cashless because even the banking infrastructure is not strong enough for what it has witnessed.
According to the CBN, the cashless policy was aimed at curbing some of the negative consequences associated with the usage of physical cash in the economy, including high cost of cash, high risk of using cash, high subsidy, armed robbery, inefficiency as well as corruption.
With the redesign of the naira and the mopping up of old cash, Nigerians have been left to bear the brunt of not having access to the new redesigned naira, which most banks have not been providing and most ATMs across the country not dispensing.