El-Rufai has alleged that CBN withdrew N2trn but printed only N400bn.
Kaduna State Governor, Nasir El-Rufai, has accused the Central Bank of Nigeria (CBN) of withdrawing N2 trillion from circulation and replacing the old notes by minting only N400 billion.
This online platform understands that he made the allegation on his Twitter handle on Sunday, adding that the apex bank only confiscated the currency as against what was obtainable in the currency swap policy.
“During the implementation of the cash swap, the CBN withdrew over N2 trillion from circulation but printed only N400 billion, so in effect, currency confiscation was then unilaterally and unlawfully implemented by the CBN. Trade and exchange have collapsed. Human suffering, impoverishment and economic contraction resulted,” he tweeted.
“The policy objective was derailed into a deliberate national fiasco to sabotage the elections in the name of preventing vote-buying. All efforts to get CBN to implement what was lawfully approved failed.
The governor claimed that what was approved by President Muhammadu Buhari was different from what the CBN did regarding the redesigning and swapping of the currency.
