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Thursday, 02 February 2023 04:29

Naira Redesign Doesn't Make Any Political Or Economic Sense - El-Rufai [VIDEO]

Kaduna State Governor, Nasir El-Rufai on Wednesday rubbished the currency design of President Muhammadu Buhari, saying it does not make any political or economic sense at this time.


Nigerians have been going through hardship and suffering as there are no cash to withdraw from banks or ATMs.

El-Rufai, who spoke on Channels TV’s Sunrise Daily programme, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele should not be blamed for the hardship, but the president who initiated the move.


According to him, “The currency redesign, you have to understand the president. People are blaming the Governor of the Central Bank for the currency redesign, but No.

“You have to go back and look at Buhari’s first outing as president.”

El-Rufai said Buhari did the same thing during his military regime when he changed the currency secretly to catch those who were stashing illicit funds.

He said it was a good intention from the president as he has the right, but said it was ill-timed at this period.


“He did it; the Buhari-Idiagbon regime changed our currency in secrecy in order to catch those who were stashing illicit funds.

“It is a very good intention. The president has his rights. But doing it at this time within the allotted time does not make any political or economic sense,” he said.

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