Nigerians have been struggling with a shortage of fresh naira notes, which has resulted in lines at ATMs and banking centres.
Due to the lack of new naira notes, there have been protests in several areas of the nation. Prior to the matter’s hearing on February 15th, the supreme court on February 8 temporarily prevented the federal government from outlawing the use of the old naira notes as of February 10, 2023.
Despite the court’s order, Emefiele insisted on the deadline. The stance of the CBN governor has triggered confusion as filling stations, supermarkets, and other business owners have continued to reject the old naira notes.
Still, President Muhammadu Buhari is “unwilling” to call Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), to order the naira redesign policy.
Many organizations and body has called out the CBN government. NANS also questioned why Emefiele could not look for a way to ensure more naira notes are in circulation.
In a statement made released by Comrade Adejuwon Emmanuel Olatunji, aka Teejay, Coordinator of NANS Southwest, the group described the CBN governor as incompetent and lacking the management skills to manage the country’s apex bank.
NANS also questioned why Emefiele, despite all the struggles Nigerians are facing before they could access cash for their daily lives, could not look for a way to ensure more naira notes are in circulation.
The statement reads: “The ongoing situation in Nigeria at the moment is a thing to ponder over. Fuel scarcity with exorbitant price and most especially the new Naira note which has not been in circulation so far.
“The CBN Governor ordered that the old Naira notes should not be accepted by any commercial banks again at the date he stipulated without any better measure to ensure the interest of the masses is protected and guide against all possible rancour that the order might evoke.
“We can categorically state that Godwin Emefiele, the CBN Governor is incompetent and has no management skill to properly hold the position of service committed to him at the moment.
“There are a series of ways to mop up the old currency and make new notes circulate without really frustrating the general public.
“He should be able to relate to some of these possible ways and if he lacks the ability to think through some of the possible ways due to pressure, he has many other deputy governors, analysts, and economists as well as other competent people who can assist him in making plans and proposing a better way forward.
“And if he thinks otherwise, he should be reminded that he has the option to resign if he is not competent enough. He has failed the Nigerian citizens by frustrating them with his instruction to all commercial banks so far.
“The old note has been causing issues around the country but the Governor seems to turn deaf ears to the suffering of people and the frustration of innocent souls out there. This is more reason why he can be regarded as not taking into consideration the masses.
“Godwin Emefiele is trying to play innocent when he is saying that the old note was kept by some politicians to buy votes, however, is it only Naira that can be used to buy votes?
“What will happen if they use other currencies to buy votes? He is also a myopic politician as well as a failure in his present place of service. We have seen sometimes ago vehicles branded with his name to contest as the president of Nigeria.
“What was his intention then when he was doing that and if he cannot properly maximize the opportunity to serve the nation better in his present place of service, what need will a bigger opportunity serve him?
“He is in his comfort making policies that are putting the general public in serious discomfort not considering the effect of his policy’s mandate to the masses. He even went against the command and judgement of the Supreme Court which happens to be an independent body powerful to sanction organizational and personal policy orders.
“What is Godwin Emefiele up to, what exactly is his intention? Is he happy seeing our people suffer or is he just more interested in using his actions to disrupt the upcoming election?”
“Banks, hospitals even in emergency situations and other places where money is needed are not collecting old Naira notes. Hospitals are not even attending to patients who do not have new notes making old, young prospective Nigerians lose their lives to the problem of just an organisational policy without proper public consideration.
“For instance, in Ibadan, yesterday, a child of 1 year plus was rushed to a hospital around Akala express, the doctor did not attend to the child all because of the new Naira note policy and they did not accept bank transfer as well which led to the child’s death. Not only that but so many cases of such which cannot be all be stated here.” The statement reads.
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