Naira redesign targeted at opposition parties – Deji Adeyanju

Popular socio-political activist, Deji Adeyanju, on Tuesday, said the redesigning of the naira by the Central Bank of Nigeria, CBN, was targeted at the opposition political parties.

Adeyanju said the CBN policy makes it difficult for the opposition to move money around with the elections around the corner.

Speaking with DAILY POST, the Abuja-based activist, however, said the policy would boost the economy.

Asked if the new policy would reduce vote-buying during the 2023 elections, Adeyanju said: “It won’t. Politicians always have a way around these things.”

He also described those who stashed the naira away as heartless animals.

According to Adeyanju: “Heartless animals refused to help the poor, but Emefiele has forced them to bring out all the money.

“The redesigning of the naira looks like it’s targeted against opposition political parties because once money goes into the system, it’s the government that determines how much you can get out of the system.

“Yes, it’s a fantastic idea of boosting 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.”

He, however, cautioned against the rush to implement the new policy, which starts in December.

Adeyanju said CBN should wait till the 2023 elections are over before implementing the new policy.

“I do not see the urgency and the spread right before the election. It’s even advisable for 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.

“It’s a good policy; however, the ideal thing is for the CBN to wait until after the elections to mop up and release the new notes,” he added.

The CBN had set December 15, 2022, for the release of the redesigned naira notes.

CBN Governor, Godwin Emefiele said N100, N200, N500, and N1000 notes would be redesigned and released.

Meanwhile, the Economic and Financial Crimes Commission, EFCC, says it’s watching the residence of three State governors following the announcement by the apex bank.

EFCC believes that the governors stashed cash in their residence.