The Arewa Consultative Forum (ACF) has told President Muhammadu Buhari that the much touted benefits of the Naira redesign can never justify the damage to his credentials as a democrat.
Secretary General of ACF, in a statement, stated that the Naira new redesign policy has led to runaway inflation in food and other commodities.
As of ten days ago, the Supreme Court of Nigeria stated that the President, Muhammadu Buhari, has breached the Constitution of Nigeria in the way he issued a directive to the CBN for the redesign of the Naira without consulting with the National Council of States and the Federal Executive Council
The state Governors have persistently argued that the policy which permitted the CBN to impose the circulation of old N500 and N1,000 Naira notes while not providing their replacement in sufficient amounts, had triggered severe cash shortage and chaos in the economy.
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Huge crowds and long queues form around bank offices and ATM points across the country as people struggle to get the new cash which have remained extremely scarce. It has triggered riots and other forms of uncivilized activities.
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