How Emefiele tried to sabotage 2023 elections by changing Naira notes – Akpabio

Senate President, Godswill Akpabio, has alleged that the redesigned Naira noted introduced ahead of the election by the former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, was meant to disturb the polls.

He said this on Tuesday, September 26, during the screening of Olayemi Cardoso, a nominee for the position of CBN Governor alongside four deputy governor nominees.

Akpabio quizzed Cardoso on his intentions to meddle in politics like his predecessor.

He said: “CBN Governor, will you uphold the integrity, steadfastness to resist when politicians come to you to join the presidential race and display your posters even as a sitting CBN Governor in political conventions?

“Will you rush to display your profile electronically at political conventions while sitting as a governor because politicians have told you that you have enough money in CBN to do it?

“Don’t forget the fact that the money in the Central Bank isn’t for you. Will you have the courage to resist the temptation to listen to politicians and throw your hat into the ring and go back to your office and sit as CBN governor?

“Will you rush to sabotage the election in Nigeria by going for new notes, two days to the election when no country in the world changes new notes within one year, you do your own in 14 days or 11 to see how you can sabotage the election in Nigeria?”

Akpabio said this although he did not mention the name of Emefiele, it was clear he was referring to him.

Recall that in October 2022, the former CBN Governor, Emefiele, announced the re-design of N200, N500 and N1000 naira notes.

According to Emefiele, the old naira notes would remain legal tender until January 31, 2023. Nigerians were required to swap their old naira notes with the re-designed currencies before the expiration date.

Emefile claims the policy was meant to, migrate the country from a cash-based to cashless economy. The former CBN governor revealed that as at September 2022, N2.73 trillion naira of the N3.23trillion naira in circulation was outside of the banking system.

The redesigned policy caused massive discomfort among Nigerians who were seen in large queues gathered in front of banks with the aim of getting the new Naira notes.