CBN naira redesign affects politicians, vote-buyers more than masses – Ozekhome

Mike Ozekhome, a Senior Advocate of Nigeria says the naira redesign policy has affected the political elites and their vote-buying allies more.

Ozekhome said the naira swap policy by the Central Bank of Nigeria, CBN, has not affected the masses like the political class.

He spoke while featuring on Channels TV’s “The 2023 Verdict,” in response to the Supreme Court’s ruling that temporarily stopped the Federal Government from extending the deadline for the naira swap.

According to Ozekhome: “It affects politicians and vote buyers more than ordinary citizens.

“Because a voter usually registers near his or her home—in some isolated cases, they have registered at a location far from their homes.

“But the people that would be most hit by this policy are the politicians— at times using the ordinary man and woman as surrogates to protest and barricade roads so as to show how bad the policy is because they no longer have access to cheap money.”

Noting that banks are owned by most politicians, the senior advocate lamented that the country has been “captured by known non-state actors, by the elites.

“There are some individuals that are now richer than Nigeria on our N21 trillion budget,” he added