Why APC Governor Candidate Sen. Uba Sani Could Not Oppose Buhari & CBN’s Naira Redesign Policy
The Chairman of the Senate Committee on Banking and the governorship candidate of the APC in Kaduna State, Sen. Uba Sani, has debunked claims that he was instrumental to the emergence of the currency redesign policy. During his interview on TVC News, Sani explained why he could not stop the CBN policy despite his role in the senate.
Addressing the topic, Sen. Sani said, “It is a figment of their imagination, as they are not familiar with the acts on which the CBN relies to initiate the currency redesign policy. I was not even a National Assembly member when the CBN Act was amended in 2007. The CBN decided to redesign the currency through the CBN Act of 2007 by relying on Section 20 Subsection 3. I was only involved in amending the act, which has nothing to do with the currency redesign but aims to expand financial inclusion and support people in northern Nigeria.
He added, “Those thinking that I have any role to play in stopping the CBN or FG on the currency redesign policy because I am the Chairman of the Senate Committee on Banking might be ignorant about the responsibilities and the roles of the national assembly. President Muhammadu Buhari does not need our support in the National Assembly to use the CBN Act, even though the Senate amended it in 2007. I do not believe anyone familiar with the National Assembly and our oversight roles on the CBN will entertain such ideas. It was the FG’s decision.
You might remember that Nasir El-Rufai, Sani’s principal and the governor of Kaduna State, has been a vocal opponent of the currency redesign policy.