Naira redesign: Buhari has good intentions — but may have got wrong advice, says Keyamo

Festus Keyamo, spokesperson of the All Progressives Congress (APC) presidential campaign council, says President Muhammadu Buhari may have acted on “wrong advice” regarding his recent directive on the old naira notes.

Speaking on Friday in an interview on Channels Television, Keyamo said the president has “good intentions” with his recent directive amid the supreme court ruling.

On Thursday, 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 CBN and designated points for 60 days.

Prior to the president’s directive, the supreme court had declared the notes as legal tender pending the determination of the suit filed by some state governments.

The directive of the president has elicited varied reactions.

Reacting to the development, Keyamo said he would have advised the president to comply fully with the ruling of the supreme court.

“The decision was not a cabinet’s decision. If it were a cabinet’s decision, I’m bound by the decision of the cabinet,” he said.

“My view is that the president acted honestly without the intentions to slight the supreme court.

“But he may have acted on wrong advice. I didn’t give that advice. It is not my responsibility. I don’t know who gave that advice.

“He thought he was playing safe by saying ‘okay, before you decide this matter in court, may I just provide some middle ground and succour for the people’, while acknowledging that the matter is in the court.

“I think the president went with the best of intentions. My personal view — perhaps, he may have been misdirected along the line but he went with the best intentions.”