‘Seun Ibukun-Oni, Abuja


The Nigeria’s Opposition, Coalition of United Political Parties (CUPP), has hailed the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on the redesigning of the Naira currency, noting that this new policy from the apex bank was vital and will help to ensure a credible elections in the 2023 polls.


The spokesperson of CUPP, Ikenga Imo Ugochinyere, in a statement on Monday, pointed out that the redesigning of the Naira will be a major setback for illicit transactions and vote buyers who have already stacked up cash for the forthcoming elections.


CUPP, which commended the CBN Governor for what it called “this outstanding contribution to free, fair, credible, acceptable, and inclusive elections,” however, alleged of a plot to scuttle the Naira redesign policy by the House of Representatives through a ‘Currency Change Procedure Amendment Bill’ before the House.


“However in a plot twist to undermine the elections, a new plan has emerged from the House of Representatives,” Ugochinyere said.


The spokesperson of the CUPP alleged that the Speaker of the House, Femi Gbajabiamila, has orchestrated a plot to scuttle the CBN policy with an ‘illegal’ Currency Change Procedure Amendment Bill.


CUPP noted that the primary aim of the proposed Bill at the House of Representatives was to scuttle the CBN policy and stall the redesign of the Naira currency, allegedly buying politicians time to use their stacked-up cash for vote buying in the 2023 elections.


The Opposition Coalition also alleged that certain unnamed godfathers with old Naira warehouses were solidly behind Gbajabiamila and the House of Representatives on the plan.


The spokesperson of the opposition, therefore, warned Nigerians and the remaining credible lawmakers to resist “this move by the Speaker and his cohorts.”


“The redesigning of the Naira currency policy is a welcome one and has come to stay for the clean-up and development of our electoral processes. This unpatriotic move by the Speaker will fail woefully,” he declared.


The coalition also called on the Senate not to concur in passing the said Bill and also urged President Muhammadu Buhari, where in the unlikely event the National Assembly members betray the people, not to sign the Bill into law.


“The godfathers behind this Bill have made handsome provisions to procure the support of majority of the members of the National Assembly.


“The opposition further wondered why Speaker Gbajabiamila would want to hurriedly pass an amendment that would render a laudable CBN policy ineffective if not for political reasons.


“The House had in a Bill to be presented on the floor of the House sponsored by Speaker Gbajabiamila and six other APC members proposed to move the three month notice required by the CBN to withdraw or redesign any currency to six months thereby forcing a shift in the 31st January 2023 deadline to sometime at the end of April 2023 after the Presidential and Governorship elections have been concluded,” Ugochinyere stated.