The APC Professional Forum has called President Muhammadu Buhari to further extend the time for the old currency to cease to be legal tender so as not to further overheat the economy with the likelihood of unintended consequences.
The Board of Trustee (BoT) Chairman of APC and former Governor of Bauchi state, Isa Yuguda while addressing a press conference, Tuesday in Abuja the forum was compelled to address the media on the current tensed socio-economic environment in the nation occasioned by the twin factors of persistent scarcity of petrol and widespread discontent and difficulties arising from the implementation of the well intended currency redesign policy of the federal government.
He said while the forum saw nothing entirely wrong with the government’s decision to embark on the currency redesign policy to address the distortions in the economy, but expressed concern about the mode of implementation, which was causing the citizens untold hardship in virtually every part of the country.
Yuguda commended President Buhari for heeding the call for an adjustment in the deadline for the old currency to cease to be legal tender till February 10 2023.
He said: “But in view of the chaos and near anarchy in some parts of the country, we are of the view that the situation may require more efforts and steps in order to address the possibility of major social upheavals as the elasticity of the average citizen is stretched to a breaking point.
“It is our considered view that the timing of the implementation of this laudable policy should be urgently reviewed.
“We call on President Buhari to consider all options including but not limited to a further extension of the time for the old currency to cease to be legal tender so as not to further overheat the economy with the likelihood of unintended consequences.”
The forum said it believed that the position of governors elected on the platform of the party on the need to allow both old and new notes to co-exist for some time was a strong point that should not be brushed aside in national interest.
The forum also commended the President for setting up a 14-member committee headed by himself to resolve the lingering fuel shortages nationwide.
It said this was especially as this administration has during its lifetime had a very good track record with respect to stability of fuel supply across the country with only occasional disruptions that are usually addressed with commendable efficiency.
Yuguda noted that rightly or wrongly, the disruption was being viewed in many quarters as sabotage, saying the forum was eagerly looking forward to a return to normalcy across the country and not only in Abuja.
“This is especially as the situation is being milked for political mileage which is clearly not good for the ruling party in the run up to the forthcoming elections,” he added.
