KADUNA State Governor Nasir el-Rufai has revealed how the President Muhammadu Buhari-led Federal Government told some Nigerian governors a lie about the Central Bank of Nigeria (CBN) burning the old N500 and N1,000 notes.
The governor further revealed that he and other governors had information that the Nigerian Security Printing and Minting Company Limited would need at least 12 months to print the minimum amount of one trillion naira he said was needed to ensure a functioning economy in Nigeria.
In a statement signed Wednesday night by his Special Adviser on Media and Communication, Muyiwa Adekeye, the governor said the disclosures were necessary following what he called a misleading report by a national online newspaper (not the ICIR) about the meeting between the Buhari government and some governors over the currency swap stalemate.
El-Rufai said the Buhari’s officials suggested an out-of-court settlement of the litigation some governors, including himself, brought against the Federal Government at the Supreme Court over the naira redesign policy.
The governor and others had dragged the Buhari government to the Supreme Court to halt the policy which they said was bringing untold hardship to Nigerians.
He described the alleged burning of the old notes as fictitious, claiming he got information that the notes were still with commercial banks.
The governor clarified that there was no physical meeting between the governors and the Federal Government but telephone calls and chats.
“Circulating the old N200 notes alone would not be sufficient to relieve widespread human suffering in Kaduna State, and indeed in Nigeria today. They knew that, and that is why they falsely claimed that the CBN had already destroyed the old N500 and N1000 notes.
“This is contrary to the fact available to the governors to the effect that the old notes were in the custody of commercial bank branches throughout Nigeria until the evening of Monday, February 13, and not a single N500 or N1000 had been destroyed.”
He added, “The tabling of false facts, inadequate solutions to the sufferings of our people, and the bad faith that some of the FG negotiators displayed in our phone conversations and chats have now been taken further in leaking a false account and context to a respected medium.
“The plaintiff governors rejected the draft proposal as insincere and invested our hopes in the Supreme Court of Nigeria.”
The governor promised to address the people of his state on Thursday, February 16, over the “currency mess” and the consequences of the extension of the injunction of the Supreme Court of Nigeria and related matters.
Earlier on Wednesday, The ICIR reported Ondo State Governor Rotimi Akeredolu as saying the ruling All Progressives Congress’ rating had depleted nationwide because of the Naira redesign policy implementation, which he described as ill-timed.
Akeredolu was worried because of the coincidence of the policy implementation with the nation’s general elections, which kick off on February 25, 2023.
The ICIR reported how the Federal has continued with the implementation despite its suspension by the Supreme Court.
The ICIR reported how the Naira redesign policy has brought hardship to Nigerians.
Since the CBN introduced the new N200, N500 and N1,000 notes on December 15, they have been very scarce in banks and at Point of Sale centres.
On Tuesday, February 14, the CBN governor told the diplomatic community in Abuja that the apex bank is standing by its decision to stop using the old notes on February 10, despite the Supreme Court order against it.
Meanwhile, the Supreme Court adjourned the case between the governors and Federal Government over the matter till February 22 on Wednesday, in Abuja.
Marcus bears the light, and he beams it everywhere. He's a good governance and decent society advocate. He's The ICIR Reporter of the Year 2022 and has been the organisation's News Editor since September 2022. Contact him via email @ [email protected].