Oshiomhole: Obi defeated Tinubu in Lagos because of naira redesign policy
Adams Oshiomhole, senator representing Edo north, says Peter Obi’s victory over Bola Tinubu in Lagos during the 2023 presidential election was largely driven by public anger over the naira redesign policy introduced under Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).
Speaking on Monday during an interview on TVC News’ Beyond the Headline programme, Oshiomhole noted that the cash scarcity triggered by the policy alienated voters from the ruling All Progressives Congress (APC) and created the conditions that worked in Obi’s favour.
The former Edo governor linked the policy to Emefiele’s failed presidential ambition, alleging that it plunged the APC into a crisis at a critical period before the election.
“I have said this, but many people may not agree. Obi was produced by an unusual situation,” Oshiomhole said.
“When a ruling party decided to destroy itself as to make anybody running election on its platform unelectable. It is that confusion that brought those votes to Peter Obi.”
Oshiomhole said Nigerians were frustrated after the Buhari administration introduced redesigned naira notes, leaving many unable to access money in their bank accounts despite having funds.
“I can speak to it. Former President Muhammadu Buhari suddenly changed the colour of the currency and virtually confiscated people’s money,” he said.
“People had money in the bank, but they can’t access it; they go to ATM machine, they queue all night to get ₦10,000, and after a week, even the ATM were dried of cash. People started going to the Point-of-Sale (POS).”
According to him, the hardship created by the cash crunch compounded the difficulties Nigerians were already facing, including fuel scarcity, and ultimately translated into protest votes against the APC in Lagos.
“And I remember one statement somebody made, which captured the situation, that why will you queue all night to withdraw ₦5,000? Then you go and queue for two nights to get 10 litres of PMS, and then those people expect that on election day, you will queue to vote for them?” he said.
“It is this anger that, in my view, deliberately created by the president before Tinubu that made people vote against the APC in Lagos, making Peter Obi to defeat President Tinubu.”
Oshiomhole also spoke on the powers of the national assembly, defending the senate’s authority to summon individuals and institutions in the course of its oversight responsibilities.
He said the 1999 Constitution empowers the senate, through its committees, to investigate matters of public interest and hold public officials accountable in the discharge of their duties.
