Politics

CBN: Tinubu Makes Strong Appeal After Naira Scarcity Protests Across Nigeria

Friday, February 17, 2023 at 8:15 AM by Esther Odili

The APC flagbearer, Bola Tinubu has said he is not happy as protests rock major states in Nigeria due to the scarcity of Naira notes and fuel shortages
Tinubu appealed to Nigerians to be patient with the CBN as all hands are on deck to make the new notes readily available in the country
The former governor of Lagos state particularly urged the youths to shun all forms of violence and focus on the major task, the 2023 presidential election

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The presidential candidate of the ruling All Progressives Congress (APC) in the February 25 poll, Asiwaju Bola Ahmed Tinubu, on Wednesday, February 15, urged Nigerians to shun any form of violence as the naira scarcity worsens.

In a statement made available on Facebook by the APC presidential campaign director, Bayo Onanuga on Wednesday night, and sighted by Legit.ng on Thursday, February 16, Tinubu described the prevailing situation as a phase that would soon pass away.

Tinubu calls for calm as protests over cash crunch rock Nigerian states

The presidential flagbearer sympathised with Nigerians over the pains they go through to withdraw money from banks and Automated Teller Machines (ATMs).

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In a statement signed by him, Tinubu said:

"I am saddened by reports of violent protests in parts of our country today, especially in Delta, Oyo, Kwara and Edo states. In Delta, there were reports of arson and destruction of bank branches.

"I sympathise with all Nigerians who are going through the pains of not being able to get money from banks and ATM points to meet their basic daily needs. I also sympathise with the banks for being victims of the CBN currency redesign policy.

"Be rest assured that this phase will soon pass away as our governments at both the federal and state levels are working to surmount the current challenges."

Cash crunch: 2 Powerful authorities Emefiele has kicked against

The law, court and constitution are the primary authorities that should run the affairs of a country, but Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN) appears to be running against these authorities in the implementation of the naira redesign policy.

In November 2022, the CBN unveiled the new naira notes while announcing that the old ones would stop being legal tender on January 31, 2023.

Following tension and outcry from Nigerians who could not get the new naira notes after depositing the old ones, Emefiele met with President Muhammadu Buhari in Daura, Katsina state, on Sunday, January 29 and subsequently announced 10 days extension for Nigerians to swap their naira notes.

Presidency: Massive crowd storms Tinubu's campaign ground in Imo

Legit.ng earlier reported that hundreds of supporters have gathered at the Dan Anyiam Stadium in Owerri, the Imo state capital, for the APC presidential rally.