Naira Swap: Intrigue as Buhari's Ministers Tackle Each Other Over Supreme Court vs Presidency Suit
- President Muhammadu Buhari's minister, Babatunde Fashola and a minister of state, Festus Keyamo, have aired opposing views on the naira redesign policy
- Keyamo, a spokesperson of APC PCC, said the president was wrongly advised to go against the Supreme Court's injunction
- But Fashola, said the move of the president to recirculate the old N200 naira notes was to ameliorate the pains Nigerians are going through
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Babatunde Fashola, the minister of works and housing, has spoken against the position of his counterpart, Festus Keyamo, the minister of state for labour and employment, on the Central Bank of Nigeria (CBN)'s naira design policy.
According to This Day, Keyamo, a senior advocate of Nigeria, faulted President Muhammadu Buhari's directive on recirculating the old N200 notes and maintaining that old N500 and N1000 notes could no longer exist as legal tender.
Source: Twitter
What Fashola, Keyamo said about Buhari's naira redesign policy
Fashola, equally a senior advocate of Nigeria, argued that the President did not make a direct affront to the Supreme Court injunction because it only temporarily halted the move to ban the old currencies by February 10.
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Meanwhile, Keyamo, the chief spokesperson of the All Progressives Congress (APC)'s presidential campaign council, posited that although President Buhari has good intentions, he was wrongly advised.
The minister maintained that he would have advised the President to comply with the Supreme Court injunction that stated that the old N200, N500 and N1000 notes should be recirculated.
Latest about Babatunde Fashola, Naira Redesign, Muhammadu Buhari, Festus Keyamo, CBN, Naira scarcity, 2023 election
But Fashola, on his part, argued that the president's decision to recirculate the old N200 notes was because he felt the pains Nigerians are going through.
He said:
"I think that whatever interventions the president sought to make were interventions in response to the very palpable pain and I think he said that much in his speech about the unintended consequences of the policy."
Naira swap: 7 controversies around CBN policy Nigerians need to know
Legit.ng earlier reported that Governor Nasir El-Rufai of Kaduna state has listed seven reasons why APC governors are against President Muhammadu Buhari's naira redesign policy.
El-Rufai disclosed that the issues range from the colouring of the naira to the confiscation of the old N500 and N1000 notes.
According to El-Rufai, the CBN governor, Godwin Emefiele, did not only go against President Buhari's directive, but he also contravened the CBN Act
Source: Legit.ng
