The Atiku Abubakar campaign team has accused President Bola Tinubu’s administration of presiding over an economy that has significantly eroded the value of the ₦100 note.
The campaign made the claim while reacting to the Central Bank of Nigeria’s (CBN) warning that Nigerians who refuse to accept the ₦100 note as legal tender could face sanctions.
In a statement issued by the “Atiku Is For The People” global movement, the campaign said the CBN’s position, though legally correct, highlights the impact of inflation on the purchasing power of the naira.
According to the statement, Nigerians are not deliberately rejecting the ₦100 note, but its value has been diminished by rising inflation and the increasing cost of goods and services.
The campaign noted that ₦100 can no longer buy many everyday items, arguing that this reflects the country’s worsening economic conditions rather than public disregard for the currency.
It also criticised the Tinubu administration’s economic policies, claiming they have weakened the naira and reduced public confidence in the country’s currency despite government assurances that ongoing reforms are yielding positive results.
The Atiku campaign compared the current exchange rate with that of the Olusegun Obasanjo administration, when Atiku served as Vice President, saying the naira traded at between ₦111 and ₦132 to the US dollar during that period, compared to over ₦1,500 to the dollar today.
The statement maintained that purchasing power cannot be restored through directives or threats, insisting that only sound economic management, increased production, job creation and investor confidence can strengthen the naira.
The campaign urged Nigerians to consider leadership change in the 2027 presidential election, describing Atiku Abubakar as a credible alternative capable of reviving the economy and restoring confidence in the national currency.
