Former governor of Abia State, Orji Kalu has decried the challenges the monetary policy of the Central Bank of Nigeria has thrown Nigerians into.
Kalu, who spoke while featuring on Channels TV on Monday night, said the cash scarcity has hit his home hard to an extent that they could hardly cook food because they could not get enough money.
“You can see the policy is right but I don’t keep money in my house. I am suffering.
“The other day, my house manager told my wife in Abuja that we have no money to cook food. My wife was virtually roaming around and we feed over 250 people every day. It is a problem to me and to everybody.”
Although, the Senator representing Abia North, said if he was the president he would have obeyed the Supreme Court decision, he insisted the cash crunch would not affect the chances of his party, All Progressives Congress from winning the Saturday’s presidential election.
He said, “This is why if I am in the position of the Mr President as I have told you before, I will listen to the Supreme Court judgement. The Supreme Court to me, whether they are right or wrong, Mr President should obey the law and ask his Attorney General to put a review to the Supreme Court.”
SaharaReporters had reported that the Central Bank of Nigeria had in late 2022 introduced the new naira notes – N200, N500 and N1000 to replace the now old banknotes.
The issuance of the new notes started in December 2022 and to last to January 31, 2023. Because of complaints of scarcity of the new currency notes, CBN extended deadline for swapping or returning the old notes to deposit money banks to February 10.
Although, Nigerians have been crying over the scarcity of the new notes, sleeping in Automated Teller Machine (ATM) points, the apex bank had maintained that it printed enough new N200, N500, and N1,000 notes to go around.
The banker’s bank, however, claims that politicians are hoarding the new notes.
