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Governor Aminu Masari of Katsina state has warned residents of the state against helping bandits to swap old naira notes with redesigned ones.
Masari issue the warning during an interactive session with traders at the Government House on Wednesday, February 15, 2023.
“We will assist you, but don’t take advantage of this situation to collect old naira notes from bandits for swapping,” he said.
The governor also blamed the cash crisis in the country on Godwin Emefiele, the governor of the Central Bank of Nigeria, saying despite the benefits of the cash swap policy, its implementation is poor.
He further told the traders that the policy could adversely affect the elections and destabilise President Muhammadu Buhari’s government.
In order to help the traders exchange their old naira notes for new ones, Masari said he would lead them to the CBN branch in the state.
He said he was disappointed that Emefiele disobeyed the Supreme Court order on the cash crisis.
The governor said, “He (Emefiele) doesn’t know the hardship facing Nigerians as a result of the naira redesign policy.
“The naira redesign policy is good, but implementation is poor. No transition: the transition period is too short and too sudden in a country where the informal sector is competing with the formal sector.
“I am really disappointed that the Supreme Court of Nigeria should give a ruling which the Governor of the Central Bank refused to follow. What kind of country is this?
“I called the CBN controller here in Katsina; he told me he had not received any instruction from his headquarters. I talk to bank managers; their headquarters have not been contacted by the apex bank.
“And the Attorney-General of the Federation has clearly made a statement that the government will respect the decision of the Supreme Court. Why is the governor of the CBN not respecting the decision of the Supreme Court?”
“Who is he? I think something is wrong somewhere and I hope those who are responsible for taking decisions will take it."
He, however, promised that his government would do whatever it takes to help the residents of the state.