Kaduna State Governor, Nasir El-Rufai, has accused the Central Bank of Nigeria of withdrawing N2 trillion from circulation and minting only N400 billion of the new notes.
El-Rufai made the allegation on his Twitter handle on Sunday.
According to him, the apex bank only confiscated the currency as against what was obtainable in the currency swap policy.
He said the action has led to a collapse in Trade and exchange, Human suffering, impoverishment and economic contraction.
He further alleged that the policy objective was derailed into a deliberate national fiasco to sabotage the elections in the name of preventing vote-buying.
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.
According to him, President Buhari approved the redesign of the N200, N500 and N1000 notes, whereas the CBN only did recolouring.
The naira crisis worsened last Thursday following the President’s nationwide broadcast ignoring the Supreme Court by extending the validity of old N200 notes while insisting that old N500 and N1,000 remained illegal.
Urging Nigerians to deposit their old N500 and 1000 notes with the CBN, Buhari said the old N200 note would be legal tender for the next 60 days till April 10.