Naira Swap: Galadima Says N22billion With NW Governor

By Ayodele Oni

An elderstatesman, Buba Galadima, has justified the decision of the Central Bank of Nigeria, (CBN) to embark on Naira swap. He also revealed that a serving Governor from the North West allegedly stashed away a whopping N22 Billion old Naira notes.

Galadima, a former National Secretary of the defunct Congress for Progressive Change, (CPC), made the disclosure in a television interview, during which he answered a question on the controversial Naira redesign policy of the CBN.

He, however, did not name the sitting Governor but added “he knows himself and the Security Agents, who may likely be protecting him, know him. Maybe they belong to the same club or they are protecting him”

According to him, this is a confirmation of Government position that some people had stashed the old notes for selfish reason.

“The Government said they are doing this because a lot of people have amassed wealth, the old currency, in their private homes.

“I know a Governor in the North West, from intelligence, has got N22 billion of the old currency stashed in his house.

“For a single person with N22 billion in cash accumulated through corruption and fraud of the system. My worry is the ordinary man from Yobe who has got just one thousand Naira as his capital for him to lose it. That one thousand Naira is his legitimate money.”

The New Nigeria Peoples Party, (NNPP), chieftain pointed out that his party has already taken a strong position on the contentious issue.

Galadima said the CBN Act states that in an event of Naira redesign, it should be done within a period of not less than six months.