CBN printed only N300bn, El-Rufai alleges



Uba Group

Kaduna state governor, Nasir el-Rufai, has attributed the scarcity of the redesigned Naira notes across the country to short supply from the Central Bank of Nigeria.

He alleged that the apex bank printed only N300billion worth as against the over N2.5 trillion mopped from circulation due to the implementation of the new policy.

El-Rufai stated this on Friday while briefing journalists on the outcome of the meeting between President Muhammadu Buhari and APC governors at the presidential villa in Abuja.

Flanked by Kano State governor, Abdullahi Ganduje, El-Rufai said they came to meet the president to persuade him to extend the deadline fixed by the apex bank .

“Although the Central Bank of Nigeria (CBN) mopped up over N2 trillion of the old notes in circulation, only N300 billion worth of new notes were printed.

“If the CBN intends to implement the cashless policy, the apex bank should have printed at least half of what was mopped up,” he said.

He said the governors told the president that the masses are suffering and traders are losing their goods due to a lack of patronage.

“We appealed to Mr President to reconsider his stance.”

The Kaduna governor however said the president did not decline or approve the request.

Adding that Kebbi state governor and chairman of the Progressive Governord Forum, Atiku Bagudu, was meeting with the president privately in a bid to convince him to shift ground on the matter.

The governors of the All Progressive Congress had on Thursday announced that they would be meeting President Muhammadu Buhari on Friday to discuss the 25 February presidential election.

The Presidential Campaign Council of APC disclosed this on Thursday via a post on Twitter.

The move followed a recent development as Nigerians in the past weeks find it difficult to access the redesigned Naira notes from commercial banks.

El-Rufai had accused some elements in the Presidency of working against the victory of the ruling party at the forth coming election while speaking on a TV programme in Abuja on Wednesday.

He equally dissociated the APC from some of the policies of the current administration.