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Governor El-Rufai’s Comments on Naira Redesign Policy Risk Further Instability in Nigeria




Datti Baba-Ahmed, the Vice Presidential Candidate of the Labour Party (LP), has spoken out against the comments made by Governor Nasir El-Rufai of Kaduna State on the naira redesign policy, following President Muhammadu Buhari’s national broadcast.

During a press conference in Abuja on Friday, Baba-Ahmed referred to the Governor’s comments as “treasonable” and questioned why the presidency has remained silent on the matter.

He emphasized that there is only one authority in Nigeria, which is the President, and expressed surprise at how a sub-national could counter the directive of the President.

El-Rufai had faulted President Buhari’s directive to reintroduce only the old N200 banknote as part of measures to curb the cash crunch in the country.

In a state broadcast on Thursday, El-Rufai claimed that the old N1,000 and N500 banknotes were still legal tenders in Kaduna State and accused the naira redesign policy of being a ploy to scuttle the general elections in order to allow an interim government led by a retired army general.

The LP Vice Presidential Candidate’s response comes at a time when Nigeria is facing an economic crisis, which has been exacerbated by the COVID-19 pandemic.

With the country’s inflation rate at a record high and the value of the naira continuing to fall, the redesign of the country’s currency is seen as a crucial step in reviving the economy.

However, Governor El-Rufai’s comments suggest a lack of consensus on the issue, which could further complicate efforts to tackle the economic crisis.

In the face of this crisis, it is essential for Nigeria’s leaders to work together to find solutions that benefit all citizens. The comments made by Governor El-Rufai risk causing further division and instability at a time when unity is needed more than ever.

As the nation approaches the general elections, it is important for politicians to focus on policies and initiatives that will bring about positive change and move Nigeria towards a brighter future.