Lagos Lawmaker, Idimogu Carpets CBN Governor, Says Naira Swap Policy Targeted At Tinubu

 

A member of the Lagos House of Assembly representing Oshodi Isolo Constituency 2, Hon. Jude Idimogu has condemned the naira note swap policy embarked upon by the Governor of the Central Bank of Nigeria (CBN) describing it as a wrong move purely targeted at the APC Presidential Candidate, Asiwaju Bola Ahmed Tinubu.

 

The lawmaker said that Nigeria, being a cash-based economy, needs a gradual approach till when the old notes fizzle out of the system as against the drastic change that is bringing untold hardships on the masses.

 

“The so-called policy is targeted personally at Asiwaju Bola Ahmed Tinubu, with due respect to the CBN Governor, Godwin Emefiele, this happens to be a wrong policy targeted at Asiwaju.

 

"Nigeria is a cash-based economy, the issue of cashless policy ought to be gradual. Imagine, the bank network is not even helping the situation, it is hanging. Before you bring any policy, think of the  millions of populations that will be affected.

 

"It is an obnoxious policy, if Emefiele knows that the economy is in shambles, why the hurry with deadline. In other climes, such policy is introduced gradually, the affected currency includes money at hand and the major part of the money is in the banks.

 

"If about N52 trillion is in people's accounts, 90 percent revolves within the banking system, why are they concerned about the ones in peoples hands, if it is not for sinister motives?

 

"Now people bring in money and they can’t get new ones across the counter. A lot of people are suffering, can one pay Danfo drivers and Keke NAPEP operators with cash transfers, can items in the markets be paid for with money transfers? 

 

"You cannot punish over 200million people just to get back at few politicians, what is the population of the politicians amongst the rest?  Just close to 10 percent, why put others into needless hardship?

 

"Buhari is not an economist or a banker, but Emefiele jumped the Finance Minister, who actually superintend on such matter and could have queried the rationale behind the policy, now everybody is suffering and APC will be worse off for it if it is not properly managed.

 

"I commend the National Assembly for the pressure that led to the adjustment, but maybe the criteria or conditions will be spelt out as individuals have no accounts with CBN, when they said we can take the old notes to the CBN after the deadline for deposit," he said.

 

The lawmaker also stated that what is happening is unprecedented in Nigeria as election period is a time when things are made easy for the commoners.

 

“Nigeria has now become a Fuji House of Commotion. Mr. President should please have a rethink,” Idimogu said. 

 

The lawmaker also called on power brokers within the APC to close ranks and stop what he called the desecration of the sanctity of the party.

 

“I appeal to President Muhammadu Buhari to ensure that the APC grows bigger.

 

“The President should not sit on the fence, I see nothing wrong in him supporting his party’s presidential candidate as a card carrying member of the party.

 

“I urge all the leaders in the APC to close ranks, let’s work together for the success Asiwaju Bola Ahmed Tinubu," Idimogu said.

 

He added that if the party loses the Presidential Election many people will be affected as all political parties are struggling for power which does not come free.

 

He however, called on South Easterners resident in Lagos not to fight their landlord, who he said has been so accommodating to them, noting that this should be pay back time for them and vote massively for all the candidates of the APC.