Former Edo State Governor and Senator representing Edo North, Adams Oshiomhole, has claimed that the 2023 naira redesign policy introduced by former Central Bank of Nigeria Governor, Godwin Emefiele, played a major role in Peter Obi’s victory over President Bola Tinubu in Lagos during the 2023 presidential election.
Speaking during an interview on TVC on Monday, Oshiomhole argued that the cash scarcity triggered widespread public frustration, leading many voters to reject the ruling All Progressives Congress (APC) in Lagos.
According to him, the naira redesign policy created an unusual political atmosphere that benefited the Labour Party candidate.
Oshiomhole said Nigerians who had money in their bank accounts were unable to access it after the currency redesign, forcing many to spend hours at ATMs and Point-of-Sale (POS) outlets in search of cash.
He recalled that many citizens also struggled to purchase fuel during the same period, adding that the combined hardship fuelled public anger against the APC.
The former APC National Chairman described the situation as a deliberate attempt to weaken the ruling party ahead of the elections, insisting that the widespread dissatisfaction influenced voting patterns in Lagos.
He further argued that the economic hardship caused by the cash crunch made many voters support Peter Obi, resulting in Tinubu’s defeat in the state despite being the APC presidential candidate.
