Speaking at an event organized by the Puntland Central Bank held in Bosaso, President Deni stated, “Puntland has been waiting a long time for a unified Somali shilling, but that has not been achieved. Therefore, Puntland has decided to create its own currency.”

“We hope that the Puntland currency will be introduced in 2025, which will coexist with the Somali shilling,” he added.

President Deni emphasized that this move is not aimed at seceding from Somalia but is based on a federal system. He further stated that Puntland will continue to make independent decisions until Somalia establishes a comprehensive governance system.

The President of #Puntland, Said Abdullahi Deni, has announced plans for Puntland to create its own currency, separate from the #Somali shilling.

Speaking at an event organized by the Puntland Central Bank in Garowe, President Deni said, “Puntland has waited a long time for the… pic.twitter.com/eCEhBW7eeT

— Kaab TV (@KaabTV) December 21, 2024

The announcement comes amid longstanding disputes between Puntland and the Federal Government of Somalia (FGS) in Mogadishu.

Puntland has frequently accused Mogadishu of marginalizing the federal states in decision-making processes and failing to uphold the principles of federalism outlined in Somalia’s provisional constitution.

These tensions have escalated over issues such as resource sharing, the distribution of international aid, and the management of elections.

President Deni has previously criticized Mogadishu for what he describes as an overreach of power, undermining the autonomy of federal member states. In turn, the federal government has often accused Puntland of acting unilaterally and challenging national unity.

On the other hand, Deni described the leadership of the Federal Government of Somalia under Hassan Sheikh Mohamud as “mad and has lost its mind.”

He stated that Puntland will return once sanity returns to the Federal Government and its leadership.

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