Obaseki To El-Rufai: You Can’t Speak For 36 Govs On CBN’s Naira Policy

Governor Godwin Obaseki of Edo State has warned Governor Nasir El-Rufai of Kaduna State to guard his utterances and avoid incensing comments on the Central Bank of Nigeria’s Naira policy to avoid plunging Nigeria into trouble.

Obaseki in a statement on Thursday 9th February 2023 distanced Edo State Government from the comments and moves by El-Rufai and some other governors against the currency policy of the CBN.

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The Edo State governor was in the financial services sector as an independent entrepreneur before joining politics. He has good knowledge of the regulatory and monetary policy framework of the CBN.

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In a statement by Special Adviser to the Edo State Governor on Media Projects, Crusoe Osagie, the state government said the Kaduna State Governor does not speak for Edo State and urged for “guided utterances and inferences in such critical matters, especially in the heat of the political season.”

According to him, “the Edo State Government distances itself from the comments and moves by the Governor of Kaduna State, Mallam Nasir El-Rufai and some other governors against the currency swap policy of the Central Bank of Nigeria (CBN).

“We are not a party to the suit instituted by the Governments of Kaduna, Kogi and Zamfara States against the CBN’s naira policy and take exemption to the claim by the Kaduna State Governor that the move by the three governments is backed by Nigeria’s 36 State Governments.

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“The currency swap policy, which is intricately linked to the cashless policy of the CBN, is aimed at promoting financial inclusion; preventing inducement of voters in elections; tackling corruption and money-laundering and checking ransom payments among other cash-based financial infractions.”

He noted that the state government acknowledges the difficulties that have arisen from the cash swap policy and empathises with all Nigerians over the challenges faced with accessing the new notes as well as other difficulties in conducting financial transactions in the last few days, noting, “While this situation is being managed by the concerned authorities and relief being sought by the authorised agencies, it is disingenuous for a suit to be filed by three governments and then inferences are made to the effect that it is the entire state governments in Nigeria that sued the Federal Government and that they all stand against the CBN’s policy.

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“The Kaduna State Governor does not speak for us in Edo State and we urge for guided utterances and inferences in such critical matters, especially in the heat of the political season.

“The Edo State Government reiterates its commitment to the good people of the State and assures that it will continue to work assiduously to protect lives and properties and provide the conducive environment for all to thrive and live life to its fullness.”

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