The Presidency announced on Friday that President Major General Muhammadu Buhari (retd.) has no intention of extending his tenure beyond May 29, 2023, nor of installing an interim government. In a statement signed by Buhari’s spokesperson, Garba Shehu, the administration emphatically denied “any truth to the claim that President Muhammadu Buhari is working towards an interim government or even worse, the truncation of democracy.” The statement, titled “Stop the joke about interim government, elections will hold,” affirmed that the President looks forward to handing over power to his elected successor on May 29, 2023, as required by the Constitution.
Shehu clarified that the recent naira swap was not “engineered” to keep the President in office beyond that date, calling such allegations “nothing could be further from the truth.” The presidency issued the response after some All Progressives Congress (APC) governors suggested that Buhari’s insistence on the new naira policy was intended to create chaos and necessitate an interim government. In a 7 a.m. broadcast on Thursday, the President announced that only old N200 notes would be valid until April 10, while N500 and N1000 notes must be returned to the Central Bank of Nigeria by February 17.
Governors Nasir El‑Rufai of Kaduna and Abdullahi Ganduje of Kano separately claimed that the policy would spark further crises, hinder elections, and pave the way for an interim government. They also argued that the new naira policy, which had provoked protests and riots nationwide, was a plot to damage the APC’s popularity and undermine its presidential candidate, Bola Tinubu. The presidency rejected these allegations, describing talk of an interim government as “way off the mark.” It warned that those spreading such rumors gain nothing except panic and public incitement against the federal government, adding that this reflects a “dangerous dimension by people who are afraid that they may lose their elections.”
According to the presidency, recent events have placed pressure on everyone—including the party, its elected officials, candidates, and law‑enforcement agencies. To address the issue, President Buhari opened several avenues for consultation with leaders and groups across the country, culminating in his Thursday morning broadcast. He issued a clear directive that the cash‑supply problem must be resolved without delay, urging calm and cooperation. “When panic hits, people go into overdrive. Shouting helps no one because no one can listen,” Shehu said.
The presidency assured Nigerians that the February 25 elections would proceed as planned and reiterated that Buhari’s preferred successor remains the APC flag bearer, Bola Tinubu.
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