El-Rufai exposes governor who collected N500m new notes from one bank

Nigeria’s recent currency redesign policy has come under scrutiny from politicians and public figures, with Governor Nasir El-Rufai of Kaduna State speaking out about the unfairness of the policy.

In an interview with BBC Hausa Service, El-Rufai revealed that some politicians and big businessmen, who are targeted by the policy, already have access to the new naira notes worth N500 million.

El-Rufai believes that the timing of the policy is not right, particularly with the approaching elections.

He pointed out that the poor and petty traders are the ones suffering the most, as they do not have access to the new notes like the rich do.

El-Rufai suggests that a better plan needs to be put in place, where the Central Bank of Nigeria (CBN), banks, and governors can work together to ensure a proper implementation of the policy.

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He proposed that they should have plans to reach out to people in their homes, villages, and change the notes for them, rather than forcing them to travel long distances to banks.

The governor’s view aligns with that of Senator Rabiu Kwankwaso, who also stated that the policy would not affect the rich.

The recent currency redesign policy has sparked debates and discussions, with some calling for an extension of the timeline to make it easier for everyone to access the new notes