Bola Tinubu, Presidential Candidate for All Progressives Congress (APC), has come out to clarify his position on the recent redesign of the naira and drive towards a cashless economy.
Tinubu stated that he was not against the policy in principle, but was instead opposed to its disruptive implementation, News About Nigeria reports.
Peoples Democratic Party (PDP) called on APC leaders, including Tinubu and state governors, to release billions of new naira notes that they allegedly have in their possession, in order to relieve the suffering of Nigerians.
Tinubu, however, urged the federal government and the Central Bank of Nigeria (CBN) to announce that both old and new naira notes would co-exist as legal tender for the next 12 months. This, he stated, was following the advice of the Council of States and would ease the tension in the country.
Tinubu acknowledged the difficulties faced by Nigerians, especially those who depend on daily cash transactions, and the market women and artisans who have experienced low sales. He added that farmers in rural areas and the hinterlands have been forced to sell their produce at lower prices, due to the scarcity of the new naira notes.
Despite the challenges, Tinubu remains encouraged by the reports of fuel queues easing out across the country and emphasized the need to find quick and sustainable solutions to the ongoing problems posed by the non-availability of new naira notes.
He and his running mate do not have anything against the CBN’s redesign and cashless policy, but are only concerned about its disruptive implementation and the hardship it has brought to the people.
Tinubu called for the suspension of charges on online transactions and bank transfers and for money deposit banks, payment platforms, and fintech companies to show clear commitment and timelines in expanding their infrastructure and support services.
He also called for the formation of an Inter-Agency Action Committee for immediate oversight over the cash supply gaps and for the CBN, National Orientation Agency, and Ministry of Information to commence a major public enlightenment and sensitization campaign.
Tinubu emphasized that as leaders, their commitment should be to make life better for the people, and they should not waste the opportunity to serve the 200 million Nigerians and improve their living conditions. PDP, however, called on APC leaders to stop punishing Nigerians by hoarding new naira notes.
