New Naira Scarcity: Sokoto, Zamfara, Katsina Border Residents Trade In CFA

 Residents of border communities in states including Sokoto, Zamfara, Katsina, Adamawa and Kwara have opted for the CFA franc following the scarcity of the new naira notes across the country.

The residents, including traders and commercial drivers, are also rejecting the old naira notes, insisting that customers who do not have the new redesigned currency must pay for goods and services with CFAs.

The CFA franc is the legal tender in eight West African countries of Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, which make up the West African Economic and Monetary Union, otherwise known as the Union Économique et Monétaire Ouest Africaine.

Findings by The PUNCH indicated that businessmen and traders in the Zurmi and Shinkafi local government areas of Zamfara State, which border the Niger Republic, prefer the franc to the naira.


Investigation revealed that traders in the two LGAs had been selling their commodities in CFA due to fear that they might not get the new naira notes.

A cattle dealer, Musa Shehu, said he stopped receiving the Nigerian currency since the Central Bank of Nigeria announced the deadline for the swap of the N1,000, N500 and N200 notes.

He stated, “I have since stopped receiving the old naira notes because I don’t have an account and I can’t go to the bank.”

A trader in Shinkafi town, who shuttles between Nigeria and Niger Republic, explained that most of his customers paid with the CFA.

“I cannot collect old naira notes and give out my commodities to any customer. But I will collect new naira notes and CFA because I am afraid of losing my money if the time for the exchange expires,’’ the trader, who spoke on condition of anonymity, said.

A grain seller in Dada village in Zurmi Local Government, Muhammadu Isa, disclosed that he stopped selling grains in the Nigerian currency after the CBN’s policy on new naira notes was unveiled.

He said that he sold only to those who possessed CFAs to avoid losing money as ‘’my father did in 1983 when the naira notes were hurriedly changed by the then Major General Muhammadu Buhari regime.’’

Isa explained that his late father lost all his money when Buhari changed the national currency in 1983.

The grain trader insisted that he would not accept the old naira notes as there was no bank or Point of Service terminal in his community where he could withdraw the new currencies.

“You see since our people and those from the Niger Republic are coming to buy the grains with the CFA, I see no reason why I should collect old naira notes. If anybody wants to buy grains from me, he must pay in CFA or forget it. I will not collect old naira notes because I don’t know what to do with them after the expiration of the deadline,” he noted.

In a related development, commercial drivers who ply the Niger Republic from Zurmi and Shinkafi LGAs have also stopped collecting the old notes.

They justified their decision with the argument that the CFA was the only legal tender accepted by the people along the Nigeria-Niger borders.

A driver, Alhaji Hamisu, stated that passengers had to pay in CFA if they wanted to travel to the Niger Republic or return to Nigeria ‘’because the old naira notes are unacceptable as legal tender.’’

Hamisu said, “I have on several occasions refused to collect the old naira notes from my passengers because I have no time to go to the bank or PoS to get the new notes.

“Another problem is that you can’t buy fuel with the old naira notes in Niger republic; as such, no commercial driver on cross-border journeys will agree to take the old notes from passengers.

“I was almost stranded in Malbaza town in Niger Republic when I wanted to buy fuel with the old naira notes because we have been doing so before the change of the Nigerian currency.

“I went to the filling station as usual and bought 30 litres of fuel and brought out the old notes but the fuel attendant told me that he would not accept the notes.

“I pleaded with him but he was not ready to collect the money from me. I was lucky as one of the commercial drivers, who is also my friend, came to buy fuel and he had enough CFAs. I bought the CFA from him and settled the fuel attendant.”

Sokoto border traders

Also, our correspondent discovered that border communities in Sokoto State preferred to sell their products in CFA due in part to the non-availability of the new notes and the continuous loss of naira value.

Speaking with The PUNCH, Mallam Sidi Isa, who trades in cattle in Illela, a border community with the Niger Republic, said he preferred the franc because of the introduction of the new naira notes and the cashless policy.

Also speaking, Mr Jamiu Ola, a motor mechanic, argued that the CFA holds more value than the naira.

“I prefer CFA due to the fact that it is hardly devalued unlike our own naira which has been devalued,” he added.

A businessman, Mallam Haruna Abdulazeez, stated, “I shifted my business to the Niger Republic when I realised I can’t cope with the economy of this country anymore.

“If I buy goods from Nigeria and take same to Niger Republic, I make profits due to the value after the exchange. Even if you take sachet water there, you will make your profits due to the exchange rate.”

A Sokoto resident, Muhammad Auwal, submitted that the CFA holds more value than the naira, hence his preference for foreign currency.

“I normally exchange my naira for CFA as it is not reasonable for someone to keep naira at home due to loss of value,’’ he declared.

Adamawa cattle dealers

Speaking in an interview, the Chairman of Mubi International Cattle Market in Adamawa State, Jafaru Hamman, lamented the scarcity of newly redesigned naira notes, adding that the difficulties in getting the currency had affected commerce at the border communities.

The problem, according to him, is that most traders in Mubi are accustomed to cash transactions and the cashless policy may take time to get mass support.

Commenting on the decision of Adamawa communities to opt for the franc over the naira, a cattle dealer, Jafaru Hamman, explained that even before the CBN policy, some traders were using the West African CFA in business transactions.

He, however, noted the volume of trade in foreign currency was minimal before the introduction of the new naira redesign policy.

Jafaru said the development had made it increasingly difficult for most traders to get the new currency, thereby stifling their business operations.

According to him, as the deadline for the naira swap draws closer and the old currency is facing rejection, traders are faced with either accepting the CFA for their transactions or halting their business activities.

He said, “They (Traders) are collecting the naira but since it became increasingly difficult to get new notes, they resorted to collecting CFA. The traders have also refused to accept the old notes. If they come to sell their cattle, if you give them the old notes they will reject it.

‘’They would rather return with their cattle than accept the old notes. Nobody is seeing the new notes because they are scarce. Don’t forget that many of these traders don’t have bank accounts to accept transfers because our business is purely based on cash.’’

Katsina traders lament

The situation is not different at the cattle markets in Dankarma, Jibia and Maiadua, all in border communities in Katsina state.

Findings showed that trading was being carried out in these markets in both naira and CFA before the CBN policy.

But the naira notes scarcity had forced the majority of cattle dealers and traders to carry out all transactions in CFA.

However, a few traders accept electronic money transfers from those considered regular customers.

Mallam Ahmadu Ousseini who sells cattle and camels at Maiadua Kara International market, said he carried out most of his transactions in CFA because his customers said they could not get the new naira notes.

Ouseini said. “We accept naira and CFA here at Kara market. But in the past three weeks, I only accepted CFA for my transactions. There are a few customers I still accept cash transfers from as I have a PoS. When we conduct business in the CFA, we gain as the CFA is slightly higher (in value) than the naira.

“It is our customers who source for the CFA which they pay us. There are even those who help us change money in the market but they too cannot get the new naira notes now. This has made us transact business majorly in the CFA.”

Hajiya Bilikisu Ahmed, who is resident in the area but goes to sell cows in Lagos and other South-West cities, explained that the currency scarcity was affecting her business badly.

Ahmed stated, “I buy (cattle) from the dealers at Dankarma and Jibia with the naira. Occasionally, I exchanged my naira notes with the CFA in any of the cattle markets. But now, the scarcity of the new naira notes has worsened the matter.

‘’On Wednesday when I wanted to buy some cattle at Dankarma, I lost N3,000 on the N20,000 I exchanged for the CFA. The situation is compounded by the network challenges in many banks in Katsina. But I collected money from some of my customers down South, especially in Lagos and no matter the situation, I have to deliver to them, otherwise, they may not patronise me again.”

The cattle dealers further complained that the CBN policy had reduced the volume of cows being brought into the market in Borno State.

Recounting his pain, Mohammed Ali, a trans-border cattle merchant in Maiduguri, said, “I used to buy about 20 heads of cattle at Mada (a Cameroon market across the border from Gamboru in Borno State) and sell at least 15 weekly in the Maiduguri market.

“My problems as a cattle merchant are three: the CFA in the Cameroon market, which used to exchange at N560 per CFA, is now N680 per CFA, and in a few instances it is even more. The old naira notes are scarce and the new notes are nowhere to be found.’’

“In this situation, the majority of us have suspended the trade because we deal in hard cash, and it is not available; the sellers of the cattle across the border also deal in hard cash. They don’t accept bank transfers; they don’t even have bank accounts,” Ali explained.

Speaking further, he added, “By my estimates, between 500 to 700 heads of cattle arrive here daily from Chad and Cameroon to meet the number on the ground that has not been sold; but today (Monday, January 30), only about 50, according to what I saw, arrived.

“I sold only one cow today, and that is even on credit; the buyer said he could only pay by the end of February,’’ he lamented.

The chief cattle dealer of Bama, Mohammed Gwamna, said the situation had forced him to stop his cattle business.

“I have suspended the trade, whether trans-border or within the Nigerian border markets. The reason: if you go to the Cameroonian market with N1 million, you have to part with N100,000 to get it changed to CFA or new naira notes to enable you to buy the cattle, otherwise, the sellers will not even look at you.”

Stressing that the naira redesign policy had eroded his business and other people’s livelihoods, Gwamna observed that the cattle population in Maiduguri markets had reduced by about 80 per cent.

He added, “By my estimate, this difficult situation has slashed the cattle population in this market by about 80 per cent, because most of us can’t even go to Gubio, Monguno and Gaidam (cattle markets in Borno and Yobe) to buy talk less of Cameroon, Niger or Chad markets because we can’t source the new naira notes. Without the new notes, nobody will even answer your greetings,” he lamented.

Another trader, Abba Ali, noted, “At Monguno, Ngala, Gubio (in Borno State) and Kukareta and Gaidam (in Yobe State), cattle will not be sold to you if you do not brandish new naira notes; and in Cameroon, you must show CFA; and both are not easy to find. This is the situation,” he complained.

“Hitherto, sometimes between 20 and 30 trailers offload cattle daily in this market; but today (Monday, January 30), according to what I have seen so far, only two trailers offloaded,” he observed.

In Ipokia, a border town in Ogun state, traders were said to have been travelling to the Benin Republic to exchange the new currency with CFAs after selling their wares.

A youth leader in Ipokia, Deji Mawuntin, bemoaned the hardship the residents of Ihunbe, Ilara, Oja-Odan and others were going through to get the new notes.

He accused unnamed bank workers of selling the new currencies to racketeers in the Benin Republic.

He noted,  “The bankers are selling new naira notes to Beninese and Nigerians are going there to exchange it with CFAs. People have called the DSS operatives to beam their searchlight on these bank officials.”

In Kwara State, in Chikanda, a border town between Nigeria and the Benin Republic, a trader, Alhaji Bashir Mohammed, said he preferred taking CFA as new naira notes were not easily available.

He said, “Since the change from old naira notes to new notes, there has been a shortage of the new notes, we are not getting the new notes, so it is easier to get the CFA than the naira notes, that is why we are accepting the CFA in exchange for our goods.”

Another trader, Mrs Mariam Hassan, who trades in Garri, local rice, beans and yam flour, said that the traders in the border towns were accepting CFA in exchange for their goods.

Mariam who is based in Yashikira in the Baruten local government area of Kwara State said that the traders made more profits when they accepted CFA.

The CBN spokesman, Osita Nwanisobi, had yet to respond to questions on the displacement of the naira by CFA in parts of the country as of the time of filing this report.

But the Managing Director, Cowry Asset Management Limited, Johnson Chukwu, described the move as the logical thing to do in face of the scarce availability of the new notes.

Also,  the Chief Executive Officer of the Centre for the Promotion of Private Enterprises, Dr Muda Yusuf, noted that this was natural due to the lack of enough new notes for people to run their businesses in border regions.

Oshiomhole: We Come With A Message Of Renewed Hope For Okpekpe

 Adams Aliyu Oshiomhole, the deputy director general of the APC presidential campaign council and  Edo North senatorial candidate of the party , hit the nail on the head yesterday in Okpekpe, Edo North, when he delivered Tinubu's message of renewed hope directly to the locals.

Oshiomhole, who is continuing his ward-by-ward campaign for APC candidates in the forthcoming general elections, stopped at Okpekpe ward 10 to explain what the community as a whole stands to gain if the party gains their support.

He emphasised the importance of voting Asiwaju Bola Tinubu in order to replicate the good works he has done in Lagos State, where he not only set and midwifed modern developmental efforts, but also ensured that the city was conducive for all Nigerians, regardless of region, to transact business and live a life of religious tolerance amongst themselves.

Oshiomhole highlighted how the current PDP state government has stalled development in the state, claiming that there has been no indication of progress not only in Okpekpe and  Edo North but across the state since he left office. However, he reminded locals that now is not the time to lament, but rather to do the right thing by voting for APC candidates.

According to him, governance is about providing answers rather than lamenting. He stated that if given the mandate, they will use it to alleviate the plights of the populace.

Earlier Adams Oshiomhole alongside the House of Reps candidate ,Anamero Dekeri aka Danco and Kingsly Agabi the House of Assembly candidate were at the palace of HRH(Apa) Peter A Osigbemah The Onwueweko (clan Head )of Okpekpe kingdom where they went to seek royal blessings.

They were enthusiastically welcomed by the entire palace chiefs in council who were attendance.

Peter Umeadi: I’ve Capacity To Tackle Security Challenges

 Prof. Peter Umeadi, the Presidential Candidate of the All Progressives Grand Alliance(APGA) says he has the ability to tackle security challenges bedevilling the country.

Umeadi said this when he spoke at the Nigeria Bar Association (NBA) State of The Nation Dialogue in Abuja.

He said that he plans to adopt some measures including a holistic review of the security apparatus with special attention to the police to tackle the challenges.

He added that the welfare of the police and the provision of adequate working tools would be given optimal attention

“As APGA Presidential candidate if elected in the General Election, I will lead the country to overcome insurgency.

“The police should be able to stay and fight and overwhelm the internal security challenges with the needed support.

“The social progress philosophy of my manifesto is all-encompassing to help the nation come out of her current challenges through the application of true federalism and concept of effective decentralisation of power.

“The problem of the Nigerian economy is not resource related but mono-economic policies and politicised crude oil production smeared with corruption.

“This has rather made the resource blight than a blessing,’’ he said.

Speaking, NBA President, Mr Yakubu Maikyau, expressed appreciation to the participants and commended the initiators of the programme.

Lekki Deep Seaport Turns New Bride As Landlocked Countries Dump Cotonou, Togo

 Lekki Deep Seaport turns new bride as landlocked countries dump Cotonou, Togo 

•Niger Republic, others to route cargoes via Nigeria

Following the recent completion and commissioning of the $1.5 billion Lekki deep seaport, some landlocked countries have indicated interest in moving their cargoes from Lekki in Lagos to other African countries, given the opportunity of smooth operations and efficiency of the port.

This comes as the newly inaugurated Dala Dry Inland Port in Kano, provides added advantage to Nigeria and other landlocked countries especially Niger Republic to move their cargoes from Lekki to Kano because of its proximity to most of these neigbouring countries.

Being the first modern and fully automated port in Nigeria, the Lekki port will no doubt, make it the transshipment hub in the Central and West Africa region once again. Activities of the port will also help Nigeria to recover its cargoes diverted to neigbour ports.

For many years, the Port in Togo and Benin Republic had taken shine off Nigeria by assuming the position of transshipment hub in the West Africa region due to massive investment and development in the Port. 

Spurred by many modernisation reforms, the Port of Lomé, Togo has rapidly expanded indeed. The number of containers transiting through the port have almost tripled reaching 1,193,800 20-foot Equivalent Unit (TEU ) in recent times, while Nigeria records barely rose by a few percentages each year.

At the moment, the size of ships that berth at Lome, Togo are more than double the size of the vessels that are currently passing out in Nigeria. It was reported that Nigeria’s ports dropped on the global rating, basically due to bad infrastructure. Its major competitors in the West African region; the Togo, Senegal and Benin, all deliver better, and efficient services than Nigerian ports. This has also been attributed to a downward trend of traffic experienced at Nigerian seaports.

Presently, Nigerian seaports are not transit corridors for goods heading for landlocked countries in West Africa. Togo, Ghana, Benin, and Cote D’Ivoire provide better routes for moving goods to landlocked countries like Mali, Burkina, Niger, Chad than Nigeria because of the overall cost.

While these countries can take a vessel with 16 meters draught, none of Nigerian seaports can accommodate such vessel due to the nation’s shallow draught that is not more than 13 meters.

Conversely, this made it difficult for transshipment in Nigerian Port or accommodation of POST PANAMAX vessels with a capacity of about 8000 TEU and 47.5 feet draft. Unfortunately, the final destination of the contents (cargoes) of the bigger vessels that call at neighbouring countries is Nigeria because of the large population and size of Nigerian markets.

With the larger draught, most Nigeria bound goods by mega ships were transshipped from these countries with smaller vessels.

As a result, Nigeria is losing 60 percent of its cargoes that translates to a whopping N136 billion annually to its West African neighbour of Ghana, Togo and Benin Republic.

The loss was as a result of the country’s inability to receive mega -sized ships and persistent human-to-human contact which breeds corruption at its seaports.

The birth of Lekki deep seaport will literally change this narrative being a modern port with over 16.5 meters draught that can accommodate bigger vessels. The landlocked countries have seen a better opportunity in the Lekki port than other neighbouring ports of Lome, Cotonou and others. They have indicated interest in the Lekki port and stop patronising neigbouring ports. 

At the commissioning recently, Niger Republic, Nigeria’s northwest neighbors said it is set to stop patronising Cotonou port in Benin Republic. This has been confirmed by a top official of the Nigerien government.

Indicating interest to transit cargoes through the Lekki port, the Director General Ministry of Transportation, Niger Republic; Mme Tchima Moustapha said with the modern facilities available at the Lekki Deep Seaport, the country was ready to dump the Cotonou port and Lome, while they transit their cargoes via the Lekki deep seaport through the Dala Inland Dry Port.

“Lekki deep seaport is a new port, a modern one; definitely it will be a good relationship between Niger Republic and Nigeria and that is why I am here to see the place and go back to my country and give them the report.

“I am happy with what I am seeing here today, and I will make sure that the Niger Republic tries to bring their cargoes to come through Nigeria from now on. You know our major port is Cotonou, so we are trying to divert our shipment cargo to Nigeria because of this port.

Nigeria to Niger is about 1000 kilometres, but since this is a modern port and definitely I know there will be a response on time so we are going to be using it more, so the cost and guarantee will be valid,” she said.

Meanwhile, the Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, said that having a depth of 16.5 metres will enable bigger vessels and more cargos to come into the port with economies of scale, which will bring down the cost of doing business in Lekki Port. 

According to him, the port will not only create employment but will be more efficient than other ports in Nigeria and a model for port development in Nigeria. 

He said that the NPA will be the regulator and had acquired the equipment needed for the provision of marine services for safe berthing of vessels at Lekki. 

“We already have interest from a certain neighbouring African country that wants to move its cargoes from Lekki Port through Dala Inland Dry Port in Kano to the the African country because the country has seen the possibility of smooth operations and efficiency at Lekki Port, “ he added.

The Chairman of Lekki Port LFTZ Enterprise Limited (Port), Biodun Dabiri said: “From what I can see, in the next four to five years, the economy of the Lekki environs would be worth $25 billion, which translates to N10 trillion – an investment amount almost similar to the whole budget of Nigeria.

“I can tell you that if we focus on this axis alone, the ranking of Lagos as one of the largest economies in Africa would be better; we could move from the 4th to 3rd, 2nd and eventually number one.” In addition, the Managing Director of Lekki Port LFTZ Enterprise Limited (LPLEL), promoter of the Lekki Deep Sea Port, Mr. Du Ruogang, said that Lekki Port would facilitate trade volume growth for Nigeria and increase the Gross Domestic Product (GDP) as part of the macro-economic benefits of the Port to the economy.

According to him, Lekki Port remains a game-changer that would redefine maritime activities in Nigeria and the entire West African sub-region and it is scheduled to commence operations by the end of Q1 2023.

He highlighted other benefits to include; improvement of external trade competitiveness through improved port efficiency, cost-effective port operations and services, and improved turnaround time for cargo handling and clearance, a reduction in delays in the supply of raw materials and equipment, as well as reduced costs of importations and charges such as demurrage, among others. 

“With Lekki Port, Nigeria will witness a growth in maritime traffic and global trade and strengthen connectivity and capability to provide efficient and reliable services. Lekki Port, no doubt, will be a critical engine that will drive the Nigerian economy upon commencement of operations. I am equally confident that it would help to reinforce Nigeria’s status as a regional maritime hub and enable many related industries to flourish,” he said.

The CEO of Lekki Freeport Terminal, operated by CMA Terminals, a subsidiary of the CMA CGM Group, Mr. Denrick Moos, highlighted that in addition to its state-of-the-art infrastructures, Lekki Port will become a new generation container terminal, a game changing infrastructure in Nigeria and West Africa. 

He stated: “The Port is Nigeria’s first deep sea port and is equipped with 13 quay cranes for a capacity of 2.5 million TEUs (Twenty-Foot Equivalent Units) on a 1.2 kilometre quay with a depth of 16 meters, it will operate vessels with a capacity of up to 15,000 TEUs and become one of the largest in West Africa.

“Through the new container terminal at Lekki Port, the CMA CGM Group will further develop its presence in Nigeria, the continent’s largest economy and population, and the most important consumer market in West Africa and will consolidate its African global shipping and logistics network.

“Committed to supporting its customers’ supply chains in Nigeria and West Africa with a comprehensive range of shipping and logistics solutions, the CMA CGM Group also participates in strengthening the region’s logistics and ports infrastructures through significant investments as a global port operator with its subsidiary CMA Terminals.”

Ondo APC, PDP, SDP Chieftains Defect To Labour Party

 Declare support for Peter Obi of Labour Party 

A few weeks before the general election, members and chieftains of some major political parties in Ondo State have defected to the Labour Party.

The defectors are from the All Progressives Congress, the Peoples Democratic Party and the Social Democratic Party in the Akoko South-East/Akoko South-West Federal Constituency of the state.

At the event, held in Isua Akoko, the headquarters of the Akoko South-East Local Government Area of the state, the defectors also declared support for the presidential candidate of the LP, Mr Peter Obi.

One of the leaders of the defectors and former House of Representatives aspirant of the APC, Mr Stephen Adeyeri, said Obi’s impeccable track records coupled with his detailed manifesto containing the solutions to myriads of challenges troubling the nation, spurred him and his supporters to join the Labour Party and openly declared his firm support for the presidential candidate. 

Adeyeri, who predicted landslide victory for Obi, said Nigerians were fed up with the two major political parties (the PDP and the APC), which, he said, had failed woefully in the administration of the affairs of the nation. He stressed that the only better alternative was the LP.

Adeyeri, who predicted landslide victory for Obi, said Nigerians were fed up with the two major political parties (the PDP and the APC), which, he said, had failed woefully in the administration of the affairs of the nation. He stressed that the only better alternative was the LP.

He said, “Obi is the candidate to beat because he has proven to be competent among other candidates. His records, while he held sway in Anambra is in the public domain, he didn’t get all of that by subterfuge but by the dint of hard work. 

FG Not Aware Of Anyone Working Against Tinubu - Lai Mohammed

 The Federal Government, on Wednesday, said it was not “officially aware” of any entity in the Presidential Villa working against the victory of the All Progressives Congress’ flag bearer, Bola Tinubu.

It also said that the President, Major General Muhammadu Buhari (retd.), was neither favouring nor disfavouring any presidential candidate ahead of the February 25 election.

“If there’s anybody who is working against any candidate, we don’t know officially,” the Minister of Information, Lai Mohammed, told State House Correspondents after this week’s Federal Executive Council meeting chaired by the President at the Aso Rock Villa, Abuja.

The PUNCH reports that the Kaduna State Governor, Nasir El-Rufai, alleged that some “elements” in Aso Rock are working against Tinubu’s emergence as President.

El-Rufai, who spoke on a Channels Television breakfast programme, Sunrise Daily, explained that the persons in question were aggrieved that Tinubu defeated their candidate in the June 2022 APC presidential primaries.

He cited the naira redesign policy as one of several schemes targeted at the APC Presidential candidate, Tinubu, who also made a similar claim a week earlier.

According to El-Rufai, “I believe there are elements in the Villa that want us to lose the election because they didn’t get their way; they had their candidate. Their candidate did not win the primaries.

“They are trying to get us to lose the election, and they are hiding behind the President’s desire to do what he thinks is right. I will give two examples: this petroleum subsidy, which is costing the country trillions of Naira, was something that we all agreed would be removed.

“In fact, I discussed with the President and showed him why it had to go. Because how can you have a capital budget of N200b for federal roads and then spend N2 Trillion on petroleum subsidy? This was a conversation I had with the President in 2021 when the subsidy thing started rising. He was convinced. We left. It changed. Everyone in the government agreed, and it changed.

“The second example I will give is this currency redesign. You have to understand the President. People are blaming the Governor of the Central Bank for the currency redesign, but No. You have to go back and look at the first outing of Buhari as President.

“He did this; the Buhari-Idiagbon regime changed our currency and did it in secrecy with a view to catching those that are stashing away illicit funds. It is a very good intention. The President has his right. But doing it at this time within the allotted time does not make any political or economic sense.”

But fielding a question on the issue on Wednesday, Mohammed argued that the Buhari-led government has been fair to all candidates regardless of party affiliations.

He said, “On a more serious note, one thing I can assure you is that, no matter who, this administration is focused and determined to ensure a free and fair election. And I think this administration, and for that matter now, the most important person in this regard is Mr. President.

“I think he has shown by words and deed that he is committed to a free, fair and credible election. And fair, free and credible elections mean not favouring or disfavouring anybody.

“Everywhere he goes, he makes that very clear, even as recently as Friday, when he was in Daura. He said the same thing. So if there’s anybody who’s working against any candidate, we don’t know officially.”

Speaking in Ogun State last Wednesday, the APC presidential candidate alleged plans to sabotage the coming election.

Tinubu cited the naira redesign policy by the Central Bank of Nigeria and the lingering fuel crisis and as part of plots to thwart the polls and his expected victory.