Thirteen out of eighteen political parties in Nigeria have expressed their intention to withdraw from the upcoming February 25th and March 11th general elections if the new deadline for the redesign policy of the Central Bank of Nigeria (CBN) is shifted.
The parties commended President Muhammadu Buhari for the redesign of the N200, N500, and N1,000 banknotes but stated their lack of interest in the elections if the deadline, currently set for February 10th, 2023, is moved.
The political parties also criticized the Kaduna, Kogi, and Zamfara state governments for seeking a court injunction to extend the deadline for the validity of three old banknotes. The National Chairman of the Action Alliance, Kenneth Udeze, announced that “at least 13 out of the 18 political parties in Nigeria will not be interested in the 2023 general elections” if the currency policies are suspended, cancelled, or the deadline is further shifted.
The CBN had originally set a January 31st deadline for the validity of the old banknotes but extended it to February 10th with the approval of the President following public outcry. The CBN has also set weekly cash withdrawal limits of N500,000 for individuals and N5 million for corporate firms. President Buhari is set to make a major decision on the policy after a meeting with some APC governors, asking for seven days to deliberate.
#ThreatToWithdrawFromElections #PoliticalPartiesInNigeria #CBNRedesignPolicy #GeneralElections2023 #NairaRedesign #PresidentBuhari #OldNotesDeadline #APCGovernors #SupremeCourtInjunction #CashWithdrawalLimits #MajorDecision #PublicOutcry
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