New naira: CBN owes Nigerians explanation, says Adamu Garba

Oluwanifemi Ojo
Oluwanifemi Ojo
The Deputy Director, Media, APC Independent Presidential Campaign Council, Adamu Garba

The former Senator of the Federal Republic of Nigeria, Adamu Garba has said that the Central Bank of Nigeria owes Nigerians an explanation and apology over the adverse impact of its naira policy.

This was during his live appearance on The 2023 Verdict of Channels Television.

This publication recalls that the CBN extended the deadline to phase out the old note from January 31 to February 10.

Following the naira crunch, the Supreme Court gave a ruling order that the CBN stopped the implemention of the February 10 deadline.

Adamu had earlier stated on his verified Twitter account that “Disobeying a Supreme Court order is a contempt on Justice and a clear pathway to anarchy! Any institution that disobeys the order of the court of law is simply a jungle that must be called to ORDER!”

While the former Senator and the Deputy Director, Media, APC Independent Presidential Campaign Council, spoke on television, he said, “I believe that the Central Bank owes Nigerians an explanation properly, and an apology and transparency,”

“These things are very clear. This is the situation that we have in the country and we need transparency.

“We need to understand how much goes to each of the banks so that Nigerians can be able to channel their own energies to go where they need to access cash.”

The Director said the President Muhammadu Buhari is not to blame as the policy meant well for Nigerians.

When asked further about the President, he said, “And this same time, he also meant well for Nigeria. The policy itself was not a bad deal. We’re transitioning from a normal cash economy to a Central Bank digital banking system.”

According to him, the redesigned naira policy is  “completely revolutionary” and that would help the country.

He then added that the implementation was faulty and not the policy itself. In his words ” the organ responsible for the implementation is the CBN.”

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