••• SAYS PRINTED N300 BILLION NEW NAIRA NOTES INADEQUATE TO REPLACE N2 TRILLION OLD NOTES
•••MAY LEAD TO CRISIS THAT CAN AFFECT ELECTION
The Governor of Kaduna State, Mallam
Nasir El Rufai , on Friday, said the current cash crunch and the crisis affecting the citizens occassioned by the new redesigned naira notes seem to have no solution with the current realities.
El-Rufia spoke after the Governors of the Progressives Congress (APC), under the platform of Progressives Governors Forum met with the President and tabled the issue of the currency redesign policy before President Mohammadu Buhari.
He attacked the Governor of Central Bank, Godwin Emefiele, and the Minting and Printing for printing inadequate new naira notes.
El Rufia said both Emefiele and the Minting and Printing were not telling the President the truth about the amount of new Naira notes printed in the country.
The Kaduna State Governor, said the President told the governors what the NPM and CBN told him about the quantity of the new naira notes printed and distributed to the banks for circulation.
He said that it was from then that the governors became aware that both organisations didn’t tell the President the actual facts.
“Our fear is that, if there is no solution to this, it may cause a crisis and affect the general elections and the election may not even hold completely. The President said he will look into it.
“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.” He said.
According to the Kaduna State Governor, what they told the President were not the main issues on the ground.
El Rufia said the governors told the President about the things that are happening in their states and the trouble people are encountering.
“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 N300 billion? That is why there are problems, the money is not enough.
“If you also look at some state and local governments that don’t have banks and the problems, they are facing from POS. People don’t have money to buy things in the market, but they can’t go shopping, tomatoes sellers took their products to Lagos and could not sell till they spoiled.
“We have narrated all these issues to Mr. President and he said he will meet with CBN, other stakeholders, and even the deposit money banks. He will see what they will tell him before he takes a decision.
“But he didn’t indicate to us that this issue has ended, there will be no extension and he did not tell us that he will extend it. He only told us that until he gets certain about what is going on. We have told him about things that are happening in our states and the trouble people are encountering.” He said.
Asked what exactly does he wants the president to do, he said: “What we the governors want is to give an extension on this policy so that everyone can exchange his money.
“This is because of N300 billion, there is no how it 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.” He said.
The Kaduna State Governor denied ever criticising the President because he was looking for a godfather adding that he was only against those working with the president because they were not telling the President the truth.
“I don’t criticize President Buhari. I have never criticized 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 this thing 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.
“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 me 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 explained further.
