Rotimi Akeredolu, governor of Ondo state, says the rating of the All Progressives Congress (APC) is no longer favourable as a result of the effects of the naira redesign policy on Nigerians.

Ondo is one of the ten states challenging the naira swap policy in a suit against the Central Bank of Nigeria (CBN) at the supreme court.

The court on Wednesday adjourned the hearing of the case to February 22, noting that its order suspending the implementation of the February 10 deadline on the old naira notes still subsists.

Godwin Emefiele, governor of the CBN, had earlier insisted that the February 10 deadline for the validity of old naira notes still stands.

Commenting on the policy on Wednesday, Akeredolu said it is ill-timed and must be reversed.

“We have a problem we are facing in this country today. Our rating as a party is not that favourable. Let’s not deceive ourselves. Must it be now that we will have this financial policy?” he said.

“How? Fuel and everything? Things are not easy. This policy is not right at this time. It should be reversed. Reserve it and tell CBN that we are reversing it. Let old and new notes co-exist.

“Okada, taxis, banks are not taking old notes again. There is an injunction and everyone is behaving like there is no injunction. We have said that this man (CBN Governor) should be removed when he contested to be president. The man is not fit for that position. A man who attempted to be president will frustrate us at this time.”

In May 2022, the Ondo state governor asked Emefiele to resign his position if he wants to contest the presidency.

It was reported that three interest groups procured the presidential nomination form of the All Progressives Congress (APC) for Emefiele.

The representatives of the coalition of three groups — “rice farmers”, “Emefiele Support Group” and “Friends of Godwin Emefiele” — were said to have picked the form for the CBN governor.

The development stirred mixed reactions as some Nigerians queried the possibility of the CBN governor contesting the presidency while in office.




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