14 Nigerian political parties threaten boycott of elections if CBN shifts Naira swap deadline again
Fourteen out of the 18 registered political parties in Nigeria have reportedly threatened to boycott the general elections if the Central Bank of Nigeria (CBN) extends the deadline for the use of old naira notes.
Recall the CBN had initially fixed January 31 as the deadline but shifted it to February 10 as the new deadline for the use of old naira notes as many Nigerians were unable to access the new N200, N500, and N1,000 notes.
Kenneth Udeze spoke on Monday at a press conference by the Forum of Chairmen of Nigerian Political Parties and the Forum of Candidates for the 2023 General Election.
Udeze, who is the national chairman of the Action Alliance (AA), said the deadline already fixed by the apex bank must not be shifted.
“We hereby announce our resolution that at least 14 0f the 18 political parties in Nigeria will not be interested in the 2023 general elections and indeed we shall withdraw all our participation from the electoral process if these currency policies are suspended or canceled or if the deadline is further shifted,” Udeze said.
The parties also knocked the Kaduna, Kogi, and Zamfara state governments for heading to the Supreme Court to get a court injunction to extend the deadline for the validity of three old notes.
Also Read: Naira Scarcity: Kaduna, Kogi, Zamfara governments sue FG
His comments elicited criticism from the All Progressives Congress (APC), with the ruling party describing him as an “enemy” of Nigeria.
Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP), has however asked the CBN not to extend the deadline for the swap of the old notes.
President Buhari said he has seen reports about cash shortages and the effect on local businesses and ordinary people.
He said the remaining seven days of the 10-day extension of the cash swap will be used to crack down on the encumbrances mitigating the successful implementation of the currency redesign policy.
“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the president said.
His position was made known after the APC governors had requested that the old and new notes should be allowed to co-exist.
