Naira redesign demarketing strategy for APC – NEF spokesman

The Northern Elders Forum's spokesman, Hakeem Baba-Ahmed, has stated that the redesigning of naira notes is a demarketing strategy for the All Progressives Congress.

"This money thing is a major demarketing strategy for the APC," he said on Channels Television's The 2023 Verdict on Tuesday.

"If the APC's worst enemy had designed a strategy for them to lose this election, he couldn't have chosen a better strategy than the naira reprinting fiasco," he added.

"Their own people say it's all designed to make Tinubu lose. The governors claim that this is done to help their candidate lose. The candidate himself stated that it is intended to cause him to lose."

Baba-Ahmed stated that in the northern part of the country, people engage in businesses with very little capital, as little as N5000, and that "literally, you've destroyed the informal sector of the economy because there is no cash."

According to the NEF spokesman, there was a lot of rage because people were starving.

He suggested that old and new notes coexist for the next six months, but "the President, Major General Muhammadu Buhari (retd. ), doesn't listen to anyone."

Godwin Emefiele, Governor of the Central Bank of Nigeria, has stated that there is no need to postpone the February 10, 2023 deadline.

He made the remarks during a visit to the Ministry of Foreign Affairs on Tuesday to discuss the bank's monetary and currency redesign policy.

"The situation has significantly calmed down since the start of over-the-counter payments to supplement ATM disbursements and the use of super-agents," he said.

"Therefore, there is no need to consider any deviation from the February 10 deadline."

This comes after the Supreme Court previously barred the Federal Government from implementing the currency swap deadline of February 10.

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