Former Edo State Governor and Senator representing Edo North, Adams Oshiomhole, has claimed that Peter Obi’s victory over President Bola Tinubu in Lagos during the 2023 presidential election was largely caused by widespread anger over the controversial naira redesign policy introduced by the Central Bank of Nigeria (CBN).
Speaking during an interview on TVC News’ Beyond the Headline programme, Oshiomhole said the cash scarcity created by the policy left many Nigerians frustrated and turned public sentiment against the ruling All Progressives Congress (APC) in the build-up to the election.
According to him, the hardship experienced by Nigerians gave Obi an unexpected advantage at the polls.
“I have said this, but many people may not agree. Obi was produced by an unusual situation,” Oshiomhole said.
“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 blamed the policy on former CBN Governor Godwin Emefiele, alleging that it created serious internal challenges for the APC during the election period.
He recalled that many Nigerians were unable to access their own money after the redesigned naira notes were introduced under the administration of former President Muhammadu Buhari.
“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 couldn’t access it,” he said.
The former APC National Chairman noted that the cash shortage forced many Nigerians to spend long hours at ATMs and Point-of-Sale (POS) outlets while also dealing with fuel scarcity.
According to him, the combination of both crises fueled protest votes against the APC, particularly in Lagos.
“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?” he asked.
“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.”
Beyond the 2023 election, Oshiomhole also defended the constitutional powers of the National Assembly, saying the Senate has the authority to summon individuals and institutions as part of its oversight and investigative responsibilities.
He maintained that the 1999 Constitution empowers lawmakers to investigate issues of public interest and hold public officials accountable.
