Naira scarcity plot for interim government led by retired general, says el-Rufai

Nasir el-Rufai, governor of Kaduna, has alleged that the scarcity of naira notes and petrol shortage is part of a plot to disrupt the elections in order to ensure an interim government takes over.

In a state broadcast on Thursday, el-Rufai said the current cash scarcity is part of moves to ensure that Bola Tinubu, the presidential candidate of the All Progressives Congress (APC), loses the election.

“It is important for the people of Kaduna state, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the Gubernatorial and Presidential Primaries of the APC in June 2022,” el-Rufai said.

“Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest.

“They also sought to achieve any one or more of following objectives: Create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections;

“Ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 Elections do not hold at all, leading to an interim national government to be led by a retired army general;

“Sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over.”

Meanwhile, in a televised address on Thursday morning, Buhari said he has directed the Central Bank of Nigeria (CBN) to extend the validity of old N200 notes till April 10.

The president also said all existing old N1,000 and N500 notes will be redeemable at the Central Bank of Nigeria (CBN) and designated points for 60 days.

Kaduna is one of the states challenging the deadline on the old naira notes, in a suit filed before the supreme court.

The supreme court, in its ruling, declared the notes as legal tender pending the determination of the suit.

Hours before the president announced the new resolutions on the old notes, el-Rufai had explained why he was against a proposal by the federal government to extend the deadline.

However, amid the naira scarcity crisis, Nigerians are also facing a hike in the price of petrol, which has been followed by scarcity of the product in parts of the country.