Senator Adams Oshiomhole, who represents Edo North Senatorial District, has attributed Peter Obi's victory over President Bola Ahmed Tinubu in Lagos during the 2023 presidential election to the controversy surrounding the naira redesign policy introduced by former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
Oshiomhole made the remarks on Monday during an interview, where he argued that the policy created widespread public anger that negatively affected the ruling All Progressives Congress (APC), particularly in Lagos.
According to the former Edo State governor, the naira redesign and ensuing cash scarcity made many voters turn against the APC despite Tinubu being the party's presidential candidate.
"I have said this, though many people may not agree. Peter Obi was produced by an unusual situation. When a ruling party decided to destroy itself and make anyone contesting on its platform unelectable, it created the confusion that brought those votes to Peter Obi," Oshiomhole said.
He alleged that former President Muhammadu Buhari's administration, through the implementation of the naira redesign policy, effectively restricted Nigerians' access to their own money.
Oshiomhole recalled that many bank customers were unable to withdraw cash despite having funds in their accounts, forcing people to spend long hours at automated teller machines (ATMs) and Point-of-Sale (POS) outlets during the cash shortage.
"Former President Muhammadu Buhari suddenly changed the colour of the currency and virtually confiscated people's money. People had money in the bank but could not access it. They queued all night at ATMs just to withdraw ₦10,000, and after some time even the ATMs ran out of cash," he said.
He added that the situation forced many Nigerians to rely on POS operators, where access to cash became increasingly difficult and expensive.
Reflecting on the mood of voters at the time, Oshiomhole said the hardship created by the cash crunch, coupled with persistent fuel shortages, generated widespread frustration ahead of the presidential election.
He recalled a popular sentiment during the period: "Why would you queue all night to withdraw ₦5,000, then queue for two nights to buy 10 litres of petrol, and still be expected to queue again on election day to vote for the same government?"
According to Oshiomhole, the public resentment triggered by the policy significantly influenced voting patterns in Lagos, resulting in Peter Obi's victory over Tinubu in the state during the 2023 presidential election.
He maintained that the outcome was driven more by public anger over economic hardship than by a shift in political allegiance.
Comments
Join the conversation and share your thoughts.
Login Required
Please login to join the conversation and post a comment.
No comments yet
Be the first to share your thoughts on this story.