Yoruba Nation activist, Maxwell Adeleye has criticized President Muhammadu Buhari’s endorsement of the Central Bank of Nigeria’s recall of old currency notes..
He said the President and the CBN were making Nigerians suffer because politicians, the presumed target of the policy, already hid money to buy votes during the February 25th election.
The government had earlier confirmed certain people stashed huge funds suspectedly earmarked to influence the 2023 general polls. N22 billion is reportedly hidden in a Government House in the Northwest.
The CBN insists only new N200, N500 and N1000 notes will be recognised as the country’s legal tender; old notes can, however, be deposited at its branches across the country.
On Thursday, President Buhari, in a broadcast addressed citizens following violent protests over the non-availability of cash in many banks and Automated Teller Machines, ATMs.
In his speech, the Nigerian leader explained that the measures taken were in line with the resolve of his government to fight corruption and insecurity and control inflationary trends partly.
Buhari, however, directed that the old N200 bank notes be released back into circulation and allowed to circulate with the new denominations for 60 days – February 10 – April 10.
In a statement made available to newsmen, Adeleye said the President tried very hard to defend the policy, enumerating reasons the actions were taken.
Noting that he supports the CBN policy in principle, the activist said the implementation has been very abysmal, hence the furore from the masses and several stakeholders, including governors.
He said Buhari chose to disregard the apex court order that status quo be maintained pending the determination of the motion on notice in respect of the suit instituted by some state governments.
“President Buhari is now running Nigeria like a State of Nature. The fact is a court order, especially the one granted by the Supreme Court, is meant to be obeyed without any objection.”
