Cash Crunch: Atiku Back-Pedals, Reveals Actual Casualty of Naira Swap Policy

• The PDP presidential standard-bearer in the 2023 election, Atiku Abubakar, has reversed his position on the CBN's naira redesign policy
• Atiku had earlier cautioned the CBN against extending the February 10 deadline, adding that it could diminish the objective of the policy
• But on Sunday, the former vice president called on the president to make the new currency available and allow commercial banks to collect the old notes

Atiku Abubakar, the presidential torchbearer of the Peoples Democratic Party (PDP), has reversed his position on the controversial Central Bank of Nigeria (CBN) naira redesign policy, saying it is killing the masses.

In a statement on Sunday, February 19, the former vice president called on the apex bank to allow deposit money banks to accept the old naira notes, Channels Television report.

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Atiku Abubakar takes new position on naira redesign policy

Atiku's recent comment contradicts his earlier position on the issue, especially on the naira swap deadline by the CBN.

The PDP candidate had supported the policy in the past few weeks and insisted that the apex bank should not extend the February 10 deadline for demonetising the old N200, N500 and N1000 notes.

The presidential hopeful argued that extending the deadline would destroy the policy's primary objective and purpose.

Latest about Atiku Abubakar, Naira redesign policy, naira scarcity, PDP, 2023 election

However, the PDP flagbearer has changed his mind, taking to his social media on Sunday, February 19, to state that the policy hurts ordinary citizens and those who earn money legitimately.

He said:

“The apex bank should, as a matter of urgency, allow commercial banks to join the CBN in the collection of the deposits of old N500 and N1000 notes.

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“The new currency should be immediately made available in sufficient quantities to alleviate the suffering of the masses."

Fresh trouble for Tinubu, Obi as 5 political parties collapse structures for Atiku

Legit.ng earlier reported that no fewer than 5 political parties have collapsed their structures for Atiku Abubakar, the PDP presidential flagbearer in the 2023 election.

The development is coming in less than 8 days to the poll at the home state of the former vice president, where he had his finally rally for the 2023 presidential campaign.

Yusuf Dantele, the APM chairman who spoke on behalf of other political parties chairmen, said they made the decision because Atiku is the best man for the job.

Source: Legit.ng