Naira redesign: APC’s rating no longer favourable – Akeredolu

ONDO State Governor Rotimi Akeredolu has said President Muhammadu Buhari’s endorsement of the immediate implementation of the Naira redesign policy introduced by the Central Bank of Nigeria (CBN) has depleted the rating of the All Progressives Congress (APC).

The governor asked the President to direct the CBN to suspend the implementation of the policy.

Akeredolu gave the advice while hosting the Youth Directorate of the All Progressive Congress (APC) Presidential Campaign Council (PCC) led by Seyi Tinubu, son of APC presidential candidate, Bola Tinubu, in his office Tuesday night.

In a statement signed by his chief press secretary, Richard Olatunde, Akeredolu noted that the policy was ill-timed and was bringing pain to Nigerians.

The governor said, ”We have a problem we are facing in this country today. Our rating as a party is not that favourable. Let’s not deceive ourselves. Must it be now that we will have this financial policy?

“How? Fuel and everything? Things are not easy. This policy is not right at this time. It should be reversed. Reverse it and tell CBN that we are reversing it. Let old and new notes co-exist.

“Okada (commercial motorcyclists), taxis, and banks are not taking old notes again. There is an injunction, and everyone is behaving like there is no injunction. We had said that this man (CBN Governor Godwin Emefiele) should be removed when he contested to be President. The man is not fit for that position. A man who attempted to be President will frustrate us at this time.”

Akeredolu said both the new and old notes should be allowed to co-exist, noting that despite an existing Supreme Court injunction, the old notes seem to have ceased to be legal tender in the country.

Like Tinubu and the National Council on State, Akeredolu suggested that the CBN allow the old and new Naira notes to co-exist.

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 the use of the old notes on February 10.




    Meanwhile, Akeredolu commended Tinubu’s son for his commitment to his father’s presidential bid.

    While appreciating the youths in the party for their relentless efforts, the governor revealed that youth would determine the outcome of the presidential election.

    “Your demographic shows that you occupy a larger percentage. You are the ones that will talk to yourself,” he said.

    Earlier, Seyi Tinubu appreciated the governor’s commitment to youth development and inclusion in Ondo State.

    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].

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