Naira redesign targeted at opposing political parties – Deji Adeyanju

Influential socio-political activist, Deji Adeyanju, on Tuesday, said the redesigning of the naira by the Central Bank of Nigeria is aimed at attacking the opposition political parties.

The Report

Adeyanju claimed that with the election fast approaching, is it not easy to move money around going by the CBN policy and that the redesigning of the naira looks as though it is targeted against opposition political parties to control the movement of money in and out of the system by the government.

 According to the report, the Abuja-based activist, Deji said, “the policy would boost the economy, knowing that so many looters have physical cash in their hands, so we can now see how smart it is for CBN to have taken such initiative” and also being asked if the new policy would be effective in reducing vote-buying in the upcoming 2023 general election, he answered by saying “it won’t, politicians have a way around these things.”

Furthermore, he threw bants at those who stashed the Niara away. He said, “heartless animals refused to help the poor, but Emefiele has forced them to bring out all the money” and also cautioned against the rush to implement the new CBN policy which is supposed to kick-start by December.

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Adeyanju suggested that CBN should wait till after the 2023 elections are over before implementing the new policy, he said: “I do not see the urgency and the spread right before the election. It’s even advisable for the CBN to show goodwill by letting the policy take effect after the election, so it’s not seen as a political thing, this will show transparency and that they are not targeting anyone, and they are not available to be used as a willing tool by the incumbent party against the opposition.”

He also stated that the policy is a good one, however, the ideal thing is for CBN to wait until after the elections to mop up and release the new notes. The CBN has chosen the 15th of December, 2022 as the date for the release of the redesigned N100, N200, N500, and N1000 noted as announced by the CBN governor, Godwin Emefiele.