Senator Adams Oshiomhole has asserted that Peter Obi's victory over President Bola Tinubu in Lagos during the 2023 presidential election was largely driven by public fury over the naira redesign policy introduced by former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Speaking on TVC News' Beyond the Headline programme, the Edo North senator attributed the outcome to cash scarcity that alienated voters from the ruling All Progressives Congress (APC) and created conditions favoring the Labour Party candidate.
Oshiomhole Links Policy to APC Crisis
The former Edo State governor linked the controversial policy to Emefiele's own presidential ambitions, alleging that it plunged the APC into a crisis at a critical pre-election period. "I have said this, but many people may not agree. Obi was produced by an unusual situation. 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 stated.
Cash Crunch and Public Frustration
Oshiomhole detailed how Nigerians became frustrated after the Buhari administration introduced redesigned naira notes, leaving many unable to access their bank deposits. "I can speak to it. Former President Muhammadu Buhari suddenly changed the colour of the currency and virtually confiscated people's money. 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)," he recounted.
According to the senator, the hardship from the cash crunch compounded existing difficulties such as fuel scarcity, ultimately translating into protest votes against the APC in Lagos. He quoted a statement that captured the public mood: "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? 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 defeat President Tinubu."
Defence of National Assembly Powers
In the same interview, Oshiomhole defended the powers of the National Assembly, emphasizing that the 1999 Constitution empowers the Senate through its committees to summon individuals and institutions, investigate matters of public interest, and hold public officials accountable. His remarks came amid ongoing debates over legislative oversight in Nigeria.
