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Nigeria is a cash based economy, issue of cashless policy ought to be gradual — Idimogu

Segun Kasali

Member of the Lagos House of Assembly representing Oshodi Isolo Constituency 2 Hon Jude Idimogu has described Nigeria as a cash-based economy, and that the issue of cashless policy ought to be gradual.

Idimogu, who spoke to journalists yesterday in Lagos, berated the naira note swap policy, embarked upon by the Governor of Central Bank of Nigeria (CBN) describing it as a wrong-timed move purely targeted at the All Progressives Congress presidential candidate Asiwaju Bola Ahmed Tinubu.

The lawmaker said that Nigeria being a cash-based economy needs a gradual approach till when the old notes fizzled out of the system as against the drastic change bringing untold hardships on the masses.

“Nigeria is a cash-based economy, issue of cashless policy ought to be gradual, imagine the network is not even helping the situation, it is hanging, before bringing any policy the hundreds of millions of populations that will be affected ought to be a basis for concern.

“The so-called policy is targeted personally at Asiwaju Bola Ahmed Tinubu, with due respect to Emefiele this happen to be a wrong-time policy targeted at Asiwaju.

“It is an obnoxious policy, if Emefiele knows that the economy is in shambles, why the hurry with a deadline, in other climes such policies are introduced gradually, the affected currency includes money at hand and the major part is in the banks.

“If about 52 trillion is printed 90 per cent revolves within the banking system, why be so concerned about the ones outside in people’s hands, if not for sinister motives?

“Now people bring in the money they can’t get it off the counter, and lots of people are suffering, can one pay Danfo drivers and Keke Napep operators with transfers, can items in the market be paid for bit by bit with money transfers?

“You cannot punish over 200 million population just to get back at the few politicians, what is the population of the politicians amongst the rest? Just close to 10 per cent why put others into needless hardship?

“Buhari is not an economist or a banker but Emefiele jumps the Finance minister who superintends on such matters and could have queried the rationale behind the policy, now everybody is suffering and APC will be worse off for it if not properly managed.

“I commend the House of Reps and National Assembly for the pressure that led to the adjustment but maybe the criteria or conditions will be spelt out as individuals have no account with CBN.

The lawmaker also stated that It is unprecedented in Nigeria as the election period used to be a time when life seems a little eased for the commoners.

“Nigeria has now become a Fuji House of Commotion, when the election is coming the government ease the economy, President please have a rethink,” Idimogu pleaded.

The lawmaker also called on power brokers within the APC to close ranks and stop the desecration of the sanctity of the party.

“I appeal to President Mohammadu Buhari to ensure the APC grows bigger as the case stands if the evident divisive tendencies are not managed well it will lead to crisis.

“The President should not come and be supporting one against the other but I see nothing wrong in him supporting his party’s presidential candidate, being a card-carrying member of APC.

“I urge all leaders in APC to close ranks, together let’s work for the success of the candidate- Asiwaju.” Said Idimogu.

He added that if the party loses the election many interests will be affected as all political parties are struggling for power which does not come for free.

He, however, called on his people from the Igbo extraction resident in Lagos not to fight their landlords who have prior been so accommodating and affectionate towards them, noting that it ought to be a payback time via a massive vote for all APCs candidates.



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