 This is still the breakfast and plus TV Africa now to our second or first conversation. I beg your pardon. The National Assembly has declared that the most potent threat to the forthcoming 2023 general elections is the central bank of Niger, CBN, through its badly implemented Naira redesign policy. Well, the legislative arm of government made this known as a one-day special hearing on the extent of implementation of a electoral act of 2022 ahead of the conduct of the 2023 general elections that was held in Abuja. The lawmakers added that the current Naira redesign policy could affect negatively the conduct of the forthcoming polls while responding to comments by the independent National Electoral Commission, INEC, which expressed fear over unending violence against its facilities in some parts of the country. Senator O'Kwemi, Bami Dele of the APC in Iqiti States, to be very precise, Iqiti Central said that going by the problems of acute Naira scarcity faced by many Nigerians, the CBN is the most outstanding threat to the elections. He said the plan of selectivity of cash withdrawal for INEC, walked out with the CBN was not assured as far as smooth conduct of the elections should be considered. He said the policy is now affecting the ordinary man on the street as they are suffering, they are sleeping in the banks, banking halls, the ATMs and don't have access to their money. We must understand the political economy of the electoral process. We're just leaving it at that. A lot has been said by the National Assembly and our members and other Nigerians, but we have Ambrose Bokeh, who is a public affairs analyst. He joins us from Inugu. Ambrose, it's good to have you join us. Good morning. And happy Friday. Oh, well, you know, you know how it is that is said that, you know, in the midst of confusion, you just have to maintain a positive attitude. I mean, maybe we should just do that. Well, let's get to the crux of the conversation. The National Assembly is quoted to say that they are saying that the CBN and her badly implemented policies, the most eminent threat to the 2023 general elections. I mean, do you agree with the School of Thought? Well, there's no School of Thought about that, because the IMEC chairman some days ago expressed that, yeah, the logistics for election is a multi, you know, million people, billion pressure. The IMEC materials have to be moved to the last war in the across the Sahel. It has to be moved back to the last war across the creeks. It has to move across to the forest to the last war. It has to circulate to every nook and cranny of this country because no Nigerian will be disenfranchised. Because of that, the costs of moving IMEC logistics for election is very high and most of these logistics are operated by payment in cash because IMEC makes use of the ordinary transport modes. For example, I get passed, I made the use of national, you know, public transport workers, transport unions, boats, you know, you know, people who go to the creeks and all that logistic. So cash is needed apart from the IMEC sites. The citizens need cash to move. The embassy in the news has just requested or directed that the vassals of Nigeria universities should allow the students go home for three weeks to fully participate in their lectures. How will they move if there's no movement, occasioned by lack of Naira? So there's a lot of issues. There are some banks that are closed. I will soon start measuring names of banks now. And bank has the temerity to say that I've closed the operations of Deshawai just yesterday. So, and unfortunately, one of those won't bounce with that bank. So my money is kept there. What we don't even know the after effect of this kind of thing. Many Nigerians, because of this action, have lost place in the banking system. So people will keep their money at home. The banks will suffer. The after effect of this action in the next six months to one year, the banks will suffer severely. Depositors will reduce. Because you can't make people this disappointed. You may be able to lose faith in the system and you want them to come back to you. So the election is being threatened. I know aesthetics. And then the serious response to that was so elementary that I need to come. And I will tell China all the funds he needs to run the election. Who talks that way? I was going to get to that, you know, because I think that's the concern that the likes of Senator Bami Dele had raised, the selective availability of cash to INEC. Because the CBN, which is the apex bank, is assured that the umpire of her readiness to make cash available to them is not going to be a problem. So what do you make of the selective availability of cash to the umpire? The sure. They would have money. The sure people who are very automated. In the similar management, was a private institution. The shareholder, the board of directors would have stacked those people. The management by now. this is gross incompetence. Does it sound logical to say this kind of things? So you are telling me that if they end the military, nice money for logistics to continue the war terror, you give them money. If the health workers make money, you give them money. Is that how you run a country? Is this a comprehensive society that does not run that way? Ambrose, I would also like to ask you to show your thoughts on this one quickly. It's about, you know, the Supreme Court's ruling. We know that it's on a temporal basis and that's temporal. But it's also expected that the CBN should obey this. However, the CBN has also been quiet as regards this. Now, it leaves a lot of people wondering what it should be. We know that the Supreme Court is the highest court of the land and whatever he says, whether or not it's right in its delivery of its ruling or judgment, whatever it is, is expected that the ruling should be respected. But the CBN is silent. And then the federal government, on the other hand, is saying we will back, you know, this order, however it is. What exactly should we expect as we inch closer to the elections? I don't know what the CBN is lying in. By now, they are supposed to have made a statement. The Supreme Court is the highest court in the land, so you cannot ignore the Supreme Court. And the CBN, by this act, is showing disrespect to the highest court in the land. A simple press statement would have been issued after advice from the legal department and from the Attorney General. But even the Attorney General, you know, having the Supreme Court, and asking them to backstitch the judgment, I mean, the SPCA or that. So what is happening now is that everybody, let me use the language we use downtown, everybody is flexing muscles. You know, everybody is being tough. You can't tell me what to do. If you behave that way, then it's a banana republic. There must be other. There must be principle. So the CBN is not having me back to cherry pick the judgment to be obeyed, and the judgment is not okay. No matter how flawed the judgment is, or whatever anybody thinks the judgment is, Supreme Court is the highest court on the land, and must be obeyed. Now, today is the day that was set for this deadline. The CBN has remained mute for three days after the judgment has been issued. This is very, very disrespectful to the Supreme Court and to the Nigerian citizens. So I don't know who is giving the Supreme Court the general back of Nigeria, this kind of advice, but we are nearing towards a dangerous part. What schools of sorts have said that the CBN is deliberately stalling so that by the end of the day, there will be no one to move forward or backward. So there will be an issue statement to say the deadline is expended. However, whether the deadline is expended or not, Nigeria can still be just worked by us because the banks are not sure of what to do. Coming up, banks are confused. They are confusing them. They don't know whether to issue the open-air notes again. They don't know who to collect. So you are just confusing everybody. What kind of a complaint is with? Ambrose, I'd like to ask you if the CBN and her policy that is badly implemented, I mean, I'm quoting the words of the National Assembly now, it's the only threat to the 2023 general elections. Well, as I said earlier, UBIS issue is not sorted out. The 2023 general election has taken place in January, it's on that point. That fact has been made very clear by the INEC chairman. So the question I remain, are people trying to scuttle this election? No, no, I'm not sure you got my question. I'm saying if we go by the statement of the National Assembly, and which was also corroborated by the Empire's chairperson, is the CBN or the CBN's policy the only threat to the 2023 elections? That is a major threat. The CBN actions in the last one month is a major threat to the 2023 election as it starts today. What happens to the attacks on INEC facilities, all of the insecurities that we're faced with, including the pockets of protests and cures, and lack of order in different states? You ask that what is the major threat. Also, we have been under threat, we have been battling with, you know, a stark attack on INEC facilities, but INEC has always come to say that their businesses are safe and the diverse nations are not affected. Now, but the monumental threats to the election is this CBN action. So, as we close the conversation down, I'd like you to give your words. You know, if you had the opportunity to be face to face, let's assume that's what you have now with the CBN governor and everyone involved in the situation. What exactly would you say? I don't think I would say I want to send it to the CBN governor, but I should speak with the president. It's either to call the CBN governor to order or attack him, because we can't continue this way. If I call on Nigerians that have access to the president to please appeal to the president to do something capacity, when you talk about is the 3D effect, is it severe the police? Is it severe the responsibility that you want to use money to stop politicians from multiplying? Is that your work? Do you lose the quality of cash without having it? I can't take any care of that. Then you come back and you're suffering and you're running money in the streets. You're running money in the streets. Who wants to buy food for your family? Is it the both sides? The small business that you have filled, the other small business that you have been shocked at the last two weeks, and you're telling me about both sides. I have nothing to say to the CBN governor, except Nigerians who have access to the president to please read with the president to call the CBN governor or other. No, but I also like to ask if you think that the federal government is saying there would obey the ruling of the Supreme Court, and that's what it is, but do we necessarily need the CBN to make any statements before we go ahead? Yes, we need to make a statement, and the statement should be in connection with all Nigerians. She's still the guard, the old knows Asleega Tender. That instruction needs to come from the CBN in the deficit bank because CBN is a regulator. That's also we assure Nigerians to collect the money at Asleega Tender, but CBN requires to process the declaration by the Supreme Court so that they'll sit out and wait to Wednesday. They're cooking the whole country into confusion. What happens today over the weekend and it's Wednesday? I'm just wondering that I'm just wondering, I mean, we know that the Supreme Court of Nigeria or the Supreme Court is the, you know, the highest court of the land, and her ruling should be supreme and be obeyed to the latter. So can we Nigerians just go ahead and spend this money without having to wait for the CBN's directive? We have institutions. We have laws that govern this land, but they're not republics. It was not the Supreme Court that told Conductional Bank to stop collecting, to stop this issue of banknotes, new holds, old notes, swap and all the same. It was the agency enacted by the Constitution to regulate that sector, that's it. You know, the Supreme Court has talked to the regulator to say allow this thing, but has there been a directive or memo to commercial banks? Because we are talking about, you know, transactions with banks. Well, I mean, fingers are very cross. There are several questions. So it means that if any citizen at this point, you go ahead to spend the old note you would be acting in contravention of the law. Is that what it means? Ambrose, I was really hoping that he answers it, and this is a question that a lot of Nigerians, you know, hoping to get answers. What becomes of the people if you go ahead to spend the old note? Today's the 10th of February. If you spend the old note, are you acting contrary to the laws that have been given? I mean, whose report then should we believe, especially when the CBN is silent? That's the size of a conversation this morning on the breakfast. We quickly take a break when we return. We'll be talking in spot. Ambrose Bokey has been our guest, a public affairs analyst all the way from Enoge. Thank you so much. We appreciate you. Please stay with us. Good morning.