Naira redesign will not hinder APC victory – Lawmaker

A federal lawmaker, Mr Babajimi Benson, has said that the Central Bank of Nigeria (CBN) naira redesign will not hinder the victory of the All Progressives Congress (APC) at the general elections.

Benson gave the submission at a media parley on Thursday in Lagos, ahead of the 2023 general elections.

He noted that the scorercard of the ruling party in the last seven years on infrastructural development, women and youths empowerment, housing, health and education sectors remained key indicators for victory.

Benson who described the CBN’s policy as a step in the right direction to revamp and control inflation expressed displeasure over the timing.

“The ongoing naira swap crisis will not in any way hinder the victory of APC at all levels because we have done our job in taking the message and awareness to the electorate.

“To me, the CBN policy is good because if a country has 70 per cent of it’s money out of the banking sector, it means that the bank cannot use its instrument to control inflation.

“But I have a problem with the method of redemption, people are directed to redeem the money within the shortest possible period of six weeks.

“The section 23 of the CBN Act says that the President must give approval if there is a need to change currency, the bank must be able to collect and redeem the expired notes anytime it is presented, but now, it is not being done.

“It means if you bring N50,000 to bank upon demand you should be able to collect the same back, but what banks do now is confiscating people’s money, which is illegal,” Benson said.

Benson, Chairman, House Committee on Defence, urged Ikorodu residents to come out enmasse and vote for Sen. Bola Tinubu, on Saturday, considering his track record on development when he was Lagos State governor.

“The APC is positioned to gain a landslide victory at the first poll due to our antecedent in bringing dividends of democracy to Nigerians.

“By the special grace of God, come Feb. 25, we’re certain to have a new incoming president in the person of Sen. Bola Ahmed Tinubu.

“Lagos presently can be described as the New York of America, as it stands today is already the envy of all states in Nigeria.

“In Lagos State, everyone knows it’s going to be a hands-down submission defeat in favour of Mr Governor, Babajide Sanwo-Olu, who will be re-elected once again as the Executive Governor come March 11,” he said.

Benson, seeking re-election for the third time at the National Assembly, promised to ensure more infrastructural development and empowerment programmes for his constituency, if re-elected.

Benson said he would also push forward for special status for Lagos and urged youths to be peaceful and not to engage in violence during and after the election.

“There are lots of things I desire to accomplish if re-elected because the scope of my job and the volume of Ikorodu division is up there to match any visionary antecedent.

“We also have brilliant minds within our confines, which has equally stretched my working into micro and macro scale.

“Going back to the Green Chamber will be about more infrastructural undertakings, even in my first year because I will not wait till May to kick off from where we are currently.

“We have already surveyed six roads in Ikorodu to work on but I won’t mention their names at the moment.

“The bill on a special status for Lagos will be more enriched and returned to the house, I am positive to get the right backing this time,” Benson said.