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Reading: Kwankwaso: Poor Nigerians Being Punished, No Bank Will Deny Presidential Candidates Money
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Nigeria

Kwankwaso: Poor Nigerians Being Punished, No Bank Will Deny Presidential Candidates Money

The New Nigeria Peoples Party's (NNPP) presidential candidate, Senator Rabiu Kwankwaso, charged that the Central Bank of Nigeria (CBN) was p...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief February 02, 2023
Updated February 2, 2023 at 12:14 PM
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Kwankwaso: Poor Nigerians Being Punished, No Bank Will Deny Presidential Candidates Money
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Kwankwaso: Poor Nigerians Being Punished, No Bank Will Deny Presidential Candidates Money

The New Nigeria Peoples Party's (NNPP) presidential candidate, Senator Rabiu Kwankwaso, charged that the Central Bank of Nigeria (CBN) was penalising common Nigerians with its currency redesign programme.

The new N200, N500, and N1,000 became legal tender on December 15, 2022, following the announcement of the naira redesign policy by the top bank in October 2022.

The new naira was unveiled by President Muhammadu Buhari on November 23, 2022, but it didn't enter circulation until December.

The CBN was forced to extend the deadline for the old notes to continue to be accepted as legal tender until January 31 because it has been challenging to obtain the new naira notes.

When asked about the difficulties Nigerians had accessing the new naira notes, Buhari stated the programme was intended to punish those who finance terrorism and corruption.

Ordinary Nigerians, according to the president, would not be permitted to suffer as a result of the programme.

However, Kwankwaso claimed on Thursday's episode of Sunrise Daily of Channels Television that the policy could not hurt the wealthy since they own the banks.

According to Kwankwaso, powerful politicians, especially presidential contenders, either own majority stakes in banks or have connections that can help them get the funds they require.

“Government should be in place to sort out issues for its people, not inflate unnecessary hardships.”

“We in the NNPP are not comfortable with the three months and even the 10 days they are talking about. Many people who are in Abuja who are in the comfort of their offices or homes wouldn’t understand what is happening outside there.

“What the government is saying has to do with people who would want to take too much money, like leaders and politicians. They don’t know that many of our colleagues, those who are contesting, especially the presidential candidates, and by extension all those in their parties are owners of the banks.

“And not only that, people close to them have banks everywhere. So, they will lose nothing. PDP has governors, and APC has governors. Governors by now would have collected so much money from the banks in their states.

“If their friends have got banks, I’m sure one or two of them may have banks or own large shares in some of these banks.

“Some people in politics may for some strategic reasons be complaining but those complaining I believe is just a gimmick, I don’t believe that they mean it. We believe they don’t have issues.  You see the people with real issues are the masses, businessmen, petty traders,” he said.

Tags: Nigeria

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