The Kaduna State Governor, Nasir El-Rufai, has said that the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, mopped up over N2 trillion of the old notes while it printed only N300 billion, which is not enough.
El-Rufai who spoke with some journalists in Hausa language after the governors of the All Progressive Congress (APC), met with the President said even if the CBN had wanted to implement the cashless policy, it should have printed at least half of what it mopped up, which is N1 trillion.
El-Rufai who was accompanied by his Kano State counterpart, Abdullahi Ganduje, however appealed to the president to reconsider his stance.
“We the governors of the All Progressives Congress (APC) under the aegis of Progressives Governors’ Forum have met with the president and informed him about the issue that is bothering us and the problems the people are going through because of the currency redesign policy.
“The president explained to us what they have told him, and we have seen that the Central Bank governor (CBN) and the Minting and Printing did not tell Mr. President the truth about the things that are happening in the country.
“What’s the truth? Firstly, we are told that they have mopped up over N2 trillion of the old notes and printed only N300 billion of the new notes. Why will you retrieve such an amount of money and then print only N300billion?
“That is why there are problems, the money is not enough. If you also look at some states and local governments that don’t have banks and the problems they are facing from POS.”
El- Rufai further expressed the fear is that if there is no solution to this problem, it may cause a crisis and derail the general elections.
Asked what the governors want the president to do precisely, he said , “What we, the governors, want is (for President Buhari) to give an extension on this policy so that everyone can exchange their money.
“Because there is nohow N300 billion will be equal to N2 trillion. N1 trillion should be printed not N300,000 billion. The money is not enough; that is the problem. Our advice is that both the old and new notes should be used until the old notes are gradually phased out.
“They should print new notes that will be enough; for now, they are not enough for circulation. Those who say the printed new notes are enough are telling lies to the president.”
The Kaduna governor, however, clarified that he is not being critical of the president.
According to him, “I have never criticised President Buhari; it’s only those working with him who are telling him lies; they don’t tell him the truth, and they don’t tell him what the people are going through on these policies or decisions that are taken.
“What President Buhari brought, we support it. We know the reason he wants to do something but they are not doing it right and they don’t tell him the right thing.
“We the true followers of Buhari are not using him to get money for shopping; we are mandated to tell him the truth, and that’s what we’ve done. President Buhari himself knows me, he knows how we have been together; all these allegations, I’m used to hearing them.”
El Rufai also stated that he is not seeking to work in Asiwaju Bola Ahmed Tinubu’s administration should the APC presidential candidate win the election.
“Which godfather am I looking for? Asiwaju Bola Ahmed Tinubu is our presidential candidate, we want him to win the election. I have told Asiwaju Bola Ahmed Tinubu ten times I don’t want government work, I don’t want to work with him. He is the one saying he wants to work with them at all costs.
“I swear I’m bigger than saying he is my godfather. I’m not seeking work; I’m not seeking shopping money; what I am seeking is from God and not man,” he added .
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