Kaduna State governor, Nasir El-Rufai has made shocking revelations.

He said: “What was approved by President Muhammadu Buhari was different from what the Central Bank of Nigeria, CBN, did regarding the redesigning and swapping of the currency.”

“The President approved the redesign of the N200, N500 and N1000 notes, the CBN only did recolouring.”

“Currency redesign was approved by the President and announced. Currency recolouring resulted.”

“The President approved currency swap, which means that Nigerians should deposit their old notes to the banks and receive the equivalents in return, while the CBN embarked on Naira confistication instead.”

“Currency swap was envisaged by s.20(3) of the Central Bank of Nigeria Act as approved by PMB. Swap means I take N100,000 to the bank in old notes & I receive N100,000 immediately in new notes. No more, no less.”

“CBN only printed N400 billion and withdrew over N2trn from the system during implementation of the cash swap.”

“CBN unlawfully confiscated the naira notes, a decision that saw trade and exchange collapse in the country and brought suffering, impoverishment and economic contraction.”

“The policy objective was derailed into a deliberate national fiasco to sabotage the elections in the name of preventing vote-buying. All efforts to get CBN to implement what was lawfully approved failed.”

“Some State Governments had no choice but to approach the Supreme Court for adjudication,” he said, insisting that the ruling All Progressives Congress and all the Governors of the party are unanimous that the Federal Government must review the implementation of the new policy.”

“There must be total compliance to the subsisting verdict of the apex court until final judgment.”