By Bala Ibrahim.

Nigeria is operating as a Republic, with both a national government at the top and the governments of 36 states, in which the people hold power, but elect representatives to exercise and utilize that power, with the executive powers placed in the hands of the president and the governors. In line with this arrangement, called the Presidential system, the Federal Republic of Nigeria has a multi-party system, where today, the National Assembly is dominated by the members of the All Progressives Congress, APC, while the rest are in the minority. The APC got the mandate to lead based on the public conviction on it’s policies.

In highlighting the meaning of it’s policies or manifesto, the upper article of the APC constitution says and I quote:

1. To initiate action to amend our Constitution with a view to devolving powers, duties and responsibilities to states and local governments in order to entrench true Federalism and the Federal spirit.

2. Strengthen INEC to reduce/eliminate electoral malpractices.

3. Attract the best and brightest into our politics and public service by aggressive recruitment of private sector people, academics and professionals within Nigeria and in the Diaspora through internships, fellowships, executive appointments and special nomination to contest elective offices.

4. Prevent abuse of executive, legislative and public offices through greater accountability, transparency and strict enforcement of anti-corruption laws whilst strengthening the EFCC and ICPC.

Of the four ambitions above, none seems designed with a desire to inflict hardship on the people. In fact, to the contrary, the aspiration of item 4 is to prevent executive and legislative abuses, through transparency and accountability. An advanced interpretation of the APC manifesto could say, it is on a mission to rescue the people from poisonous policies, that are capable of inflicting any form of hardship on the people, including, if the need arises, through the action of amending the constitution.

The position of the Nigerian Political party politics is clearly crafted to constitute the foundation for a good democratic government. The functions of political parties are therefore for political recruitment of credible candidates into the party membership, as well as political socialisation. The parties are also duty bound to engage in political education and the training of their political leaders, including those of them that are elected into executive positions. Where the party deems it fit, it can over rule the executive, on matters that may tantamount to perceived poisonous policies.

Pursuant to the execution of the new Naira policy, as a country, Nigeria is under terrible tension today, and the apprehension is on the rise, over the scarcity of the newly redesigned currency notes. The policy is perceived as poisonous. In many states, commercial banks, motorists and sales outlets are refusing to collect the old notes, while the public is threatening fire and brimstone. Many Nigerians are still holding on to the old naira notes due to the poor circulation of the new ones.

When I came out of the house this morning, I thought the government had made a new announcement while I was sleeping last night, saying the general election has been brought to today, as against the 25th of the month. As I drove along the road, intermittently I was seeing groups of people in front of buildings, rowdy, looking frightened, unsettled and perturbed. My initial instinct told me voting was going on in those buildings. Then suddenly I saw a bank logo on one of the buildings. It then dawned on me that the stampede is for people trying to carry out some transactions in the banks.

As I write this article, reports reaching me are saying at least three banks were torched today, Monday, 20th February 2023, in the Sagamu area of Ogun State. Just four days to the election. Last week, the story was terribly displeasing from all over the country. And the reason is simple – poisonous policy on money.

I’ve heard arguments by people saying the policy is aimed at checkmating governors who have stashed naira in houses ready for use to buy votes. I only laugh at the dopiness of such people. Incidentally, one of them once told me that his bank had made an offer to him, to bring to him at home, a bullion van, to evacuate whatever quantity of naira he has, in exchange for the new notes, or for deposit into his account. The question now is, if my friend, who is just a successful business man, can have such offer from his bank, what more of a governor, from whom the banks are falling over each other, in order to have state funds deposited with them? Cant he have better offers?

Whatever may be the reason for the policy, the fact that it did not anticipate the likelihood of the targets converting their money to foreign currencies, and using same for use in the election, or the penurious state of our financial infrastructure, with regards online real-time banking, means it was not done by people with foresight, because they would have been able to predict what is happening today.

It is however pleasing to hear that, the APC, as the ruling party, has responded to the public anguish with a human face. After a marathon meeting with all its governors yesterday, the National Chairman of the party, Senator Abdullahi Adamu, has called on the President, the Attorney General of the Federation and the Central Bank Governor, to respect the Supreme Court order, which instructed the maintenance of the status quo, in order to alleviate the sufferings of Nigerians.

Indeed as a party, this is a commendable action that is in compliance with the purpose of party politics and the position of poisonous policies in the polity.