The Edo state government has explained why it is not joining the lawsuit against the Central Bank of Nigeria (CBN) over the naira redesign policy like other states are.
On Wednesday, seven states—Lagos, Katsina, Cross-River, Ogun, Ekiti, Ondo, and Sokoto—joined Kaduna, Kogi, and Zamfara as plaintiffs in the lawsuit. The only defendant is the attorney-general of the federation.
Only two states joined the AGF as respondents: Edo and Bayelsa.
In a statement released on Thursday, Edo’s attorney-general, Oluwole Iyamu, said that the states that are against the policy are only looking out for themselves and don’t care about the well-being of their people.
He pointed out that the state government’s plans for implementing the new policy are already working.
Iyamu said, “Firstly, it is not true that the plaintiffs, in that case, have suddenly become the people-loving Patriots they seek to present themselves as.
“The object of the suit is to create a legal opening to flood the nation with massive quantities of old notes which have been stockpiled in anticipation of the forthcoming election.
“The position of the Edo state government is that what is required is the availability of legitimate cash for our ordinary citizens. All pressure needs to be brought on the CBN and the FGN in this regard.
“The supreme court suit as presently constituted only serves the interests of the ruling party faction, which believes that huge infusions of illicit cash can aid their electoral fortunes.
“We do not consider it our duty to assist these illicit interests by supporting their suit.
“The reality is that as of today, most legitimate N200, N500 & N1,000 notes have been deposited.
“The real problem is the availability of replacements from the banking system.
“Our intervention to seek adjustments in the implementation process is already yielding fruits despite the strident cries and inflammatory rhetoric of those born-again people advocates who disguise their malevolence as concern for the masses.
“That is our position which we believe is in line with the best wishes of our people.
“In a few days, our position shall be vindicated.”
