El Rufai Insists Currency Swap Meant To Truncate Democracy, Foist Interim Govt, Buhari Deceived

By Ayodele Oni

Contrary to the belief by President Mohammadu Buhari that Naira swap is intended to curtail activities of some economic saboteurs, Governor of Kaduna State, Malami Nasir El Rufai said it was targeted at frustrating the Presidential ambition of a candidate.

El-Rufai, who made a state broadcast on Thursday evening, insisted that President Buhari was deceived into supporting the policy by some cabals.

“It is now clear that the President has been deceived by the Central Bank of Nigeria and some elements in his government into buying into this overarching narrative, in the name of ensuring free and fair elections in 2023.

“It is important for the people of Kaduna State, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the Gubernatorial and Presidential Primaries of the APC in June 2022.

“Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC Presidential Candidate is deprived of what they alleged is a humongous war chest.

“They also sought to achieve any one or more of following objectives:

“Create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections.

“Ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 Elections do not hold at all, leading to an Interim National Government to be led by a retired Army General.

“Sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over.

“In the pursuit of these objectives, the Central Bank of Nigeria and these other disgruntled Federal officials have so far convinced the President that it is fine for ordinary citizens to be dispossessed of their hard-earned money, and starved if need be, while small and medium-sized businesses are deprived of access to their capital, thereby bringing trade and exchange to a grinding halt.

“All our efforts to modify implementation of the policy to avoid what we assumed were unintended consequences were unsuccessful.”