Cash Crunch: "Compel Tinubu, APC Leaders to Release Hoarded Naira Notes," PDP Tasks Buhari

Cash Crunch: "Compel Tinubu, APC Leaders to Release Hoarded Naira Notes," PDP Tasks Buhari

  • The 2023 presidential candidate of the All Progressives Congress Bola Tinubu has been accused of planning the current cash crunch
  • The allegation was levelled against Tinubu by the leadership of the Peoples Democratic Party (PDP) on Thursday, February 16
  • According to the PDP, Tinubu and other leaders of the ruling party are hoarding naira and thus causing pain and hunger among Nigerians

The Peoples Democratic Party (PDP) has urged President Muhammadu Buhari to assuage the pain and anguish being experienced by Nigerians following the growing cash crunch across cities of the country.

The party called on the president to prevail on leaders of the All Progressives Congress (APC) including its presidential candidate, Bola Tinubu and governors of the party to immediately release the hundreds of billions of new naira notes reportedly intercepted and hoarded by them for alleged vote-buying purposes.

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Bola Tinubu, Muhammadu Buhari, new naira scarcity, naira crunch, central Bank of Nigeria, PDP
The PDP has accused Bola Tinubu and other APC leaders of hoarding the naira. Photo: APC
Source: Facebook

In a statement signed by PDP's national publicity secretary, Debo Ologunagba and seen by the party said it is instructive to note that the president in his address to the nation on Thursday, February 16, morning acknowledged that the naira redesign and swap policies are programmes of the APC administration.

Ologunagba said that the president's address confirmed that the implementation of the initiative is also completely in control of the production and circulation of the new notes making it clear that the PDP has no part in the entire process.

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He said:

"Our Party had earlier alerted on how APC leaders allegedly sabotaged the system and diverted the new Naira notes so as to create widespread social unrest to justify their plan to derail the 2023 general elections and truncate our democracy.

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"The PDP had also exposed how APC governors are allegedly warehousing the new Naira notes in facilities in Lagos, Kano, Kogi, Kaduna, Imo and other States of the country for the purpose of vote buying in the Presidential election."

The PDP's spokesperson also noted that the opposition had raised alarm on how the Tinubu/Shettima Campaign had allegedly orchestrated the current cash crunch as a strategy to cause crisis while inciting Nigerians to insurrection.

APC presidential campaign council allegedly planned the cash crunch - PDP

He said the party's 2023 presidential campaign had planned the cash crunch with the view to truncate the electoral process considering the fact that the APC's flag bearer has allegedly been rejected by Nigerians ahead of the polls.

His words:

"Our Party sympathizes with Nigerians over the pain, torture and distress brought upon our citizens by the selfish, vicious and anti-people APC leaders. The PDP again salutes the resilience of Nigerians in the face of APC-induced suffering.

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Naira Redesign: Timi Frank accuses APC of fueling crises to force election postponement

"The APC and its Presidential Candidate must come to terms with the fact that Nigerians are determined to vote in the PDP Presidential Candidate, Atiku Abubakar, come February 25, 2023. The threats and incitement to violence by the Tinubu Campaign cannot deter the people.
"The PDP calls on President Muhammadu Buhari to put every measure in place to guarantee peaceful, free, fair, transparent and credible 2023 general elections as Nigerians are ready to go to the polls in their determination to vote in Atiku Abubakar as the next President of our country."

Old naira notes: Trouble as Dapo Abiodun threatens to close banks, businesses over rejection

Commercial banks and business owners rejecting the old naira notes in Ogun state are in for a stiff sanctions.

The governor of the state, Dapo Abiodun, has said any bank or businessmen or women rejecting old notes would be shut down by his government.

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

According to the governor, it is imperative to allow the use of the old notes to alleviate the sufferings faced by the people due to the scarcity of the new naira notes.

Naira scarcity: CBN Governor Emefiele begs Nigerians to be calm

Nigerians have been urged to remain calm and patient with the transition phase of the new naira notes.

The plea was made by the governor of the Central Bank of Nigeria, Godwin Emefiele, following the challenges faced by Nigerians in accessing the naira notes.

Godwin Emefiele said hiccups are always expected in situations like this but will surely be overcome.


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