Naira Scarcity: CBN Emefiele’s Cashless Policy Disastrous – Shehu Sani

Shehu Sani has claimed that CBN Emefiele’s cashless policy is disastrous.

 

NewsOnline reports that former Senator representing Kaduna Senatorial District, Shehu Sani has described the cashless policy introduced by the Central Bank of Nigeria, CBN, governor, Godwin Emefiele as disastrous and poisonous.

 

This online newspaper understands that Sani was reacting amid hardship being experienced in the withdrawal of money by bank customers leading to queues across the country.

 

In a statement he issued on Friday seen by NewsOnline Nigeria, Sani wondered how public policy should be a catastrophe to people rather than a succour.

 

ALSO: CBN Mandates Nigerians To Patronise PoS, Open Savings Accounts

 

In his words, “The redesigning of the National currency and the cash withdrawal policy introduced by Godwin Emefiele is an economic disaster and a poisonous idea aimed at unleashing hardships on the masses of Nigerians.

 

“If the Buhari administration really wants to target the few corrupt, it doesn’t have to wait this long and it doesn’t have to impoverished punish the poor. Emefiele set a forest on fire in the name of catching a few rats.”

 

The ex-lawmaker posited that the apex bank has become a political institution, stating that as a developing nation, economic policies such as this would have taken the status of Nigerians into cognisance.

 

“The CBN has become a political institution and a home for serpentine and delirious economic ideas.

 

“The CBN under Emefiele has become a shrine for misery and a breeding ground for penury. It has become a republic within a republic,” he said.

 

He queried reasons Buhari allowed the policy at the twilight of his administration, particularly in 2019 when he recontested to stop vote buying.

“Why didn’t the Buhari administration introduce the change of currency in 2019 and waited until 2023 if the CBN policy is about curbing vote buying?

 

“Nigeria has been turned into a vast refugee camp where people queue for cash ration. Nigerians have been subjected to the multiple tragedies of struggling for money, searching for money, looking for money, and scratching for money.

 

“Nigerians used to buy Dollars at the black market, now they are also buying Naira at the black market.

 

“The Ahmed Lawan led Senate has failed to checkmate the excesses and autocracy of the CBN because the leadership is in bed with it. The House of Reps have a clear and principled position on the matter”, he concluded.