13 out of the eighteen political parties in Nigeria have vowed to boycott the elections on February 25 and March 11 if the CBN stretches the deadline for the naira swap once more.
In the event that the new deadline of February 10, 2023 is again postponed, the parties have vowed that they will not be taking part in the elections.
President Muhammadu Buhari received praise for the redesigned naira, and the Coalition of Chairmen of Political Parties insisted that the decision must hold.
The state governments of Kaduna, Kogi, and Zamfara were also criticized by the parties for approaching the Supreme Court in an effort to obtain a court order to prolong the deadline for the naira exchange, which was set for February 10th.
Central Bank Governor, Mr. Godwin #Emefiele Briefs Media in Lagos…says no further extension in the deadline for depositing old series of N200, N500, and N1,000 banknotes. pic.twitter.com/kLgKIU3qQt
— Central Bank of Nigeria (@cenbank) February 4, 2023
Kenneth Udeze, the Action Alliance’s national chairman, spoke to reporters and said:
“We hereby announce that at least 13 out of the 18 political parties in Nigeria will not be interested in the 2023 general elections and indeed we shall withdraw our participation from the electoral process if this currency policies are suspended or cancelled or if the deadline is further shifted.”
In the meantime, the state governments of Kaduna, Kogi, and Zamfara have taken the federal government before the Supreme Court in an effort to halt the full implementation of the CBN Naira redesign policy.
The three northern states are asking the supreme court to issue them a temporary injunction to prevent the Federal Government from following out its plan to end the time period within which the now-outdated 200, 500, and 1000 Naira denominations of the Naira may no longer be legal money on February 10.
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