2023: APC rating drops over naira redesign crisis - Akeredolu

he Ondo State Governor, Rotimi Akeredolu, says the naira redesign policy of the Federal Government has adversely affected the rating of the All Progressives Congress (APC) with the voters ahead of the general elections.

Mr Akeredolu spoke in Akure on Wednesday while receiving the youth wing of the APC led by Seyi Tinubu, a son of the APC presidential candidate.

The governor urged President Muhammadu Buhari to direct the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to reverse the controversial policy immediately.

He said both new and old naira notes should be allowed to co-exist, lamenting that despite an existing order of the Supreme Court, the old notes seem to have ceased to be legal tender in the country.

Mr Akeredolu said the policy was ill-timed, adding that worsened by fuel scarcity, the APC rating had gone down due to the situation.

“We have a problem we are facing in this country today. Our rating as a party is not that favourable,” he said.

“Let’s not deceive ourselves. Must it be now that we will have this financial policy?

“How? Fuel and everything? Things are not easy. This policy is not right at this time. It should be reversed. Reserve it and tell CBN that we are reversing it. Let old and new notes co-exist.

“Okada, taxis, banks are not taking old notes again. There is an injunction and everyone is behaving like there is no injunction. We have said that this man (CBN Governor) should be removed when he contested to be president.

“The man is not fit for that position. A man who attempted to be president will frustrate us at this time.”

Mr Akeredolu commended Seyi Tinubu and his team for the rigorous campaign they embarked upon for the success of the APC.

While appreciating the youths in the party for their relentless efforts, the governor said the youth will determine the outcome of the presidential election.

“Your demography shows that you occupy a larger percentage. You are the ones that will talk to yourself,” he said.

Mr Akeredolu explained that the choice of Mr Tinubu as APC candidate was based on his competence and track record.

“We didn’t waver when we said that the Presidency must come to the South. And when it got to the south, we didn’t waver when we said competence and track record are important. Our choice of Asiwaju was premised on informed decision not because we are from the same tribe,” Governor Akeredolu said.

He further commended the State Youth Leader of the party, Ayo Wisdom, for running the youth department of the party effectively.

Earlier, Seyi Tinubu appreciated the governor for his commitment to youth development and inclusion.

“We have come to seek your approval to add to what you have done in the state already in terms of the campaign. We will be in Ondo for the next two days to meet with the youths,” he said.

“Thank you for all you have been doing for Ondo and Nigeria. Most especially for young Nigerians and youths in the state. With the work you have done, we know Asiwaju has no worries in Ondo State.”

The governor had earlier joined his counterparts in Kaduna, Zamfara and Kogi at the Supreme Court against the CBN redesign policy.

Ondo State also filed a separate suit against the Federal Government at the apex court calling for the reversal of the policy.

The state government cited hardship imposed on the residents and its inability to efficiently fund its ministries, agencies and departments as reasons why the policy should be jettisoned.

Mr Akeredolu’s comments are also coming against the backdrop of repeated allegations by members of the presidential campaign Committee of Mr Tinubu that the policy was designed to ensure their candidate did not win the coming presidential election.

Mr Emefiele had argued that the policy was meant to reduce inflation, strengthen the naira, and generally improve the Nigerian economy despite the initial problems.

He blamed the negative impact of the policy on alleged sabotage by some stakeholders in the nation’s financial ecosystem.