How CBN Deceived Buhari Over Naira Redesign – Oshiomhole Makes Huge Revelation

How CBN Deceived Buhari Over Naira Redesign – Oshiomhole Makes Huge Revelation

Adams Oshiomhole has accused the Central Bank of Nigeria (CBN) of misleading President Muhammadu Buhari regarding the redesign of naira notes.

President Buhari approved the redesign of the N1,000, N500, and N200 notes last year. The move, however, has caused hardship for Nigerians who are battling to obtain the new notes as the currency swap deadline of February 10th approaches. Following the naira swap crisis, the CBN maintained that the deadline would not be extended.

However, Oshiomhole has criticized the policy, calling it senseless and a plot by the apex bank to derail the general elections. According to him, the bank persuaded the President to approve the policy by selling him an anti-corruption motive.

“So, I can guess – I was not there – that in obtaining the approval, I believe the CBN deceived the President by amplifying the need to have corruption-free electioneering as if election is the only project this President has a responsibility for,” he said during an interview on Channels Television’s election programme The 2023 Verdict on Sunday.

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He claimed that the CBN convinced him that redesigning naira notes would reduce vote buying and thus catch corrupt politicians off guard.

“The President Buhari that I know will have no difficulty in agreeing,” he said, arguing that the CBN governor Godwin Emefiele “knows better than that”.

Aside from that, Oshiomhole claimed the apex bank was acting for other reasons.

“You could see that the intention of the Bank is not to eliminate abuses but to stop the elections from taking place,” he said.

According to him, the move was intended to sow discord, divert government attention, and ultimately cause the ruling All Progressives Congress (APC) to lose the elections.

“If you have riots like you had in Ibadan and Benin – I don’t know anywhere else –   and they were taking place simultaneously, and you are now dealing with the issue of protecting lives and properties, will elections become a priority?” the APC chieftain quizzed.

“So, it is in that context that whoever scuttles the elections would have scuttled the chances of the APC winning the election.”

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