CBN: 5 implications of El-Rufai going against the FG

Kaduna state Governor Mallam Nasir El-Rufai


When the Governor with no state, Mr. Godwin Emefiele, the Governor of the Central Bank of Nigeria launched his political witch-hunt against some persons and some camps in the country while siding with some cabals, according to Nasir El-Rufai, re-echoed by the wife of the President, Dr. Mrs. Aisha Buhari, I know we are already in for a long political shadow fighting.


So many political jobbers, amateurs, and neophytes are seeing the CBN policy as a tool against vote buying across the country, and to also curb corruption, one may tend to teach such persons some lessons that, according to Governor Nyesom Wike, no government can fight corruption in 3months to the end of the office. With over 7 states begging to join the suit seeking to checkmate the Federal government over the excessive use of executive powers, it is an omen for a nation, not even Nigeria which is currently sitting on a gun powder, we need to be sincere for once as a people, that yes the policy is good but the timing is wrong, we need to all condemn the rascality and high handedness of the Federal government. 


Also read: 5 ways to protest against the Government


You can't make a policy because of some minority few who you perceive have cash at hand and that cash is meant to induce voters, one may ask when does policy become a tool to fight a select few?


Recall that, the CBN Governor contested in a failed attempt to clinch the Presidential ticket of the APC, a contest he did through Arise TV fronting for him and was busted by the Tinubu camp. With the money expended for the failed job, it is a well-known fact that Emefiele had no choice but to act as a pawn or a piece in a political chess play. Surely, the end will justify the means, if it is not even happening, with the special order of El-Rufai to the good people of Kaduna state.


The actions of the Kaduna state Governor, El-Rufai is anti-Federal government to be sincere, but that might be what other Governors who are against the policy will likely turn to do as we approach the general elections. 


Also read: 2023: Tinubu, the proud presidential candidate - Presidency


The summary of El-Rufai's comments on the CBN policy is that:

* The good people of Kaduna should continue spending the old notes


* That if Asiwaju Bola Ahmed Tinubu the Presidential candidate of the APC gets elected he will reverse the policy.


* There are cabals behind the stay of the policy, who are against the victory of the APC candidate, which they have shown their interest on two occasions and have been defeated on such occasions, one was before the primaries, and the other after the primary elections that produce Tinubu as the flag bearer of the APC...


5 implications of El-Rufai going against the FG

When a state goes against the federal government, there can be some significant implications. With El-Rufai going against the FG, here are some of the potential implications that may befall him and the consequences of such a decision on the way and manner his state is governed:

1. Legal Implications: Going against federal laws can result in legal consequences. The federal government can take legal action against Kaduna state, including filing lawsuits, imposing fines, or withholding federal funding, which may hurt the state in the remaining three months left for the Buhari Presidency to wind up.


2. Social Implications: Going against the federal government can lead to social polarization in Kaduna state, as mischief makers who are siding with the Presidency on the matter may want to incite public hate against Malam El-Rufai, that he disrespected the President, which may sound as an aberration to some people. The El-Rufai speech can create tension and division among different groups, with some supporting the state's actions and others opposing them. It is two sides to a coin.


3. Constitutional Implications: Going against the federal government can raise constitutional questions. For example, it may challenge the balance of power between the federal government and the states, or the interpretation of the Constitution itself. If El-Rufai is not being handled well, it might result in a more future face-off with the FG by states, Lagos and Rivers state in particular, who believes they can do without the FG.

The constitutional effect is a hefty matter, it reminds one of what ensued when certain groups were saying the North is 'born to rule' during the Obasanjo regime, Obasanjo waged a state war on those persons, Obasanjo prevailed, based on the fact that allowing such action to persist will result to disrespect to the constitution, and some person or region seeing themselves too big to control.


4. Economic Implications: Going against the federal government can have economic consequences. For instance, the state may lose access to federal funding or be subjected to economic sanctions that can impact businesses, jobs, and the overall economy. But with three months left for a Buhari Presidency, the short-term effect might not be much, Kaduna under El-Rufai has seen rapid improvement, and El-Rufai has the ability to navigate through the storm, and this can't be different if the FG decides to teach him a lesson. The case of Obasanjo vs Tinubu is a perfect example. 


5. Political Implications: Going against the federal government can lead to political backlash. State officials and political leaders may face criticism from their constituents and may have difficulty obtaining federal support for their policies and programs. 


Concluding, the nation is currently facing civil unrest, and citizens are advised to shun any form of protest and improper handling of the cash situation. While it is your duty to respect government pronouncement it is also your duty to show your anger against a policy that does not favor you, but it is a pleading that this is done in a democratic manner. Let us all throttle down the use of force thereby destroying institutions that are enforcing the policy.


Kindly remember, the Bank staffs are not the ones who gave the order, rather they are on the execution side with strict adherence to the policy. We can't because of headache cut off the head, kindly spare bankers in this struggle, and I will appreciate it if you desist from any form of civil unrest.

God bless Nigeria.

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