…say CBN printed only N300bn, mopped over N2trn

From Juliana Taiwo-Obalonye, Abuja

Governor of All Progressive Congress (APC) have appealed to President Muhammadu Buhari to allow both the old and new naira notes to co-operate to ease the suffering of Nigerians.

According Governor Nasir El-Rufai, of Kaduna State, who spoke with some journalists in Hausa language, said that while the Central Bank of Nigeria, mopped up over N2 trillion of the old note but printed only N300 billion, which is not enough.

El-Rufai who was accompanied by his Kano State counterpart, Abdullahi Ganduje, said even if the CBN had wanted to implement the cashless policy, they should have printed at least half of what they mopped up, which is N1 trillion.

He said they told the president that the masses are suffering and traders are losing their goods due to lack of patronage. He gave example of tomatoes seller that travelled to Lagos with their goods but all got wasted because people have no money to buy.
So they appealed to the president to reconsider his stances.
El-Rufai said the president did not tell them yes or no. He disclosed that the chairman of Progressive Governors Forum, Atiku Bagudu, has gone back to meet the President privately with the Hope to convince him.
At at the time of filing this report, he was being awaited to address the media.

Details later…