CBN Naira Redesign: "I Don’t Have Cash", Buhari's Minister Cries Out

CBN Naira Redesign: "I Don’t Have Cash", Buhari's Minister Cries Out

  • A former governor of Lagos, Babatunde Fashola, has said that the CBN redesign policy is actually not working
  • Fashola who is also the minister of works and housing admitted that a lot of Nigerians are going through pain due to the initiative
  • The minister added that personally he is affected by the apex bank's decision as he does not have cash

The minister of works and housing, Babatunde Fashola, on Tuesday, February 7, claimed that he did not have cash.

Fashola made this claim when he spoke with Channels TV on the hardship Nigerians are going through due to the naira redesign policy of the Central Bank of Nigeria (CBN).

Fashola said the CBN's naira redesign policy is not working (Photo: @tundefashola)
Source: Twitter

In the interview monitored by Daily Trust, the former Lagos governor said that the CBN's initiative is not working currently.

Speaking on how the policy is affecting him personally, Fashola said:

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”The facts that I can talk about on the new policy is that I can see pain. I see people at ATMs. I see people in banks crowded struggling to get their money.
"I take feedback. I don’t have cash, too. I don’t. The policy is not working at this moment. It is causing unintended consequences.”

Naira scarcity: Governor Ganduje slams CBN with serious allegation

Governor Abdullahi Ganduje alleged that some political parties are working with the Central Bank of Nigeria (CBN) to undermine the country's democracy using the crisis caused by the naira redesign policy.

According to Ganduje, some persons he described as June 12 elements are regrouping ahead of the coming elections.

The Kano governor specifically named the Peoples Democratic Party as the spearhead of what he called an unfeasible cash policy that is affecting the masses.

In a statement released by the state's commissioner for information, Muhammad Garba, Ganduje claimed that the CBN and supporters are being rigid in the implementation of the “harsh and insensitive” cash policy.

In his view, the fact that the PDP and its presidential candidate, Atiku Abubakar, are in support of the CBN's initiative shows that they are involved in the plot to work against democratic processes.


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