Former Lagos State governor, Babatunde Fashola reveals reasons for his predecessor’s public outcry against the CBN.
The current Minister of Works and Housing describes the APC presidential flag-bearer as an activist with the interest of the downtrodden at heart.
Fashola calls for a review of the policy of the Central Bank.
EKO HOT BLOG reports that the Minister of Works and Housing, Babatunde Fashola, has praised Bola Tinubu for his early public outcry against the Central Bank of Nigeria’s (CBN) Naira Redesign Policy.
Fashola describes Tinubu as an “activist” who has the interest of the downtrodden at heart and that is why he raised the alarm early, causing others to follow suit. Tinubu had previously accused some saboteurs in the government of attempting to use the Naira Swap Policy and fuel scarcity to harm his presidential campaign.
Fashola is also calling for a review of the policy, stating that it has brought untold hardship to Nigerians and is not achieving its intended purpose. He said it is the responsibility of public servants to reassess policies that are causing pain and inconvenience and to readjust if necessary.
The CBN had set a deadline of January 31 to phase out the old Naira notes, but it has since been extended to February 10. The scarcity of new notes has brought economic challenges to many Nigerians, with protests breaking out in some parts of the country.
“It is the responsibility of public servants, especially those responsible for those policies, to look back and say ‘do we intend to cause this pain?’ And if the policy is not working, perhaps you have to readjust and ask yourself whether you thought this through,” he said.
“As a public servant before and now, I have had cause to revert myself when I saw that my policies were causing unintended results.
“These policies are not yet delivering the results and it is delivering a lot of inconvenience for a lot of people.
“That is why our candidate was the first to speak out about it even though it is his party that is in government and this is consistent with Asiwaju Tinubu’s position as an activist, the fighter of the downtrodden, and champion of the downtrodden.
“It was after he spoke that the others now found their voices. One of them said ‘don’t extend it’. What is he benefiting from contributing to the pain by saying they should not extend it?”
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