Naira scarcity: APC govs meet Party Chairman, demand respect of S’Court order
…Directs call to Emefiele, Malami.
…Policy causing tremendous difficulties to Nigeria, national economy — Adamu
…Tinubu storms meeting venue
Joel Oladele-Abuja
Amidst the lingering hardship imposed on Nigerians by the Naira redesign policy and the scarcity of new notes, the Progressive Governors under the platform of the All Progressives Congress (APC) on Sunday met with the National Chairman of the Party, Senator Abdullahi Adamu, demanding that the Federal Government honour the order of the Supreme Court on the pending suit which had restrained the Central Bank of Nigeria (CBN) from implementing its deadline on the status of the old Naira notes as legal tender.
The stakeholders urged the Central Bank Governor (CBN), Mr. Godwin Emefiele and the Attorney General of the Federation and Minister of Justice, Abubakar Malami to respect the Supreme Court order of interim injunction, which had restrained the Federal Government, the CBN, and Commercial Banks from implementing the deadline on the swap of the old Naira notes.
The National Chairman of the All Progressives Congress (APC), Senator Abdullahi Adamu placed the demand while speaking on behalf of the Governors after a 5-hour long closed door meeting at the national headquarters of the Party on Sunday.
He said they were aware the implementation of the Naira redesign is causing tremendous difficulties to Nigerians and the national economy, thus the meeting became necessary.
Recall that there has been discrepancy between President Muhammadu Buhari and some aggrieved Governors over the policy which has left the citizens groaning not only in untold hardship, but in confusion.
Adamu added that their resolution is without prejudice with the case that is still at the Supreme Court.
“A meeting comprising of our APC Governors and the leadership of the National Working Committee (NWC) of the party were summoned. And we have had our discussion. And at the end of the discussion, we have resolved as follows: the resolutions are without prejudice whatsoever with the case that is lying at the Supreme Court at this point in time.
“This has to do with the issue of currency redesign. We note very seriously that the programme and its implementation is causing tremendous difficulties to the people of Nigeria and the national economy.
“We urge the Attorney General of the Federation and the Governor of the Central Bank of Nigeria, CBN to respect the Supreme Court order of interim injunction which is still subsisting.
“That the meeting is urging his excellency, Mr. President to intervene in resolving the issues that are causing this great difficulties to the people and to the economy,” Adamu said.
Efforts to speak with most of the Governors after the meeting proved abortive as they all declined invitation by journalists.
While the meeting was ongoing, the presidential candidate of the party, Asiwaju Bola Tinubu also stormed the party national secretariat.
However, the reason for the visit to the party’s headquarters was not disclosed as he also did not grant journalists an audience.
The meeting had in attendance: Governors of Kaduna state, Nasiru El-Rufai; Mohammed Bello of Niger, Abdulahi Sule of Nasarawa, Babajide Sanwo-Olu of Lagos State, Abubakar Bagudu of Kebbi State, Yahaya Bello of Kogi state, Inuwa Yahaya of Gombe state, Bello Matawalle of Zamfara, Mai Mala Buni of Yobe, Abubakar Badaru of Jigawa, Biodun Oyebanji of Ekiti, Simone Lalong of Plateau and the deputy governors of Imo state, Placid Njoku, and Mohammed Manir Yakubu of Katsina state.
Recall President Muhammadu Buhari’s last Thursday broadcast declaring the old N500 and N1,000 notes has ceased to be legal tender, had further erupted anger, instigating protests across States in the Country with more destruction of property.
The President last week, amidst the scarcity of the new notes, had said he has given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1,000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.
He added that in line with Section 20(3) of the CBN Act 2007, all existing old N1,000 and N500 notes remain redeemable at the CBN and designated points.
Recall that a seven-man panel of the Supreme Court had Wednesday February 08, barely two days to the February 10 deadline set by the Federal Government, in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the CBN’s February 10 deadline for the swapping of the old Naira notes with the new ones.
The judgement followed the motion ex-parte on behalf of three northern states – Kaduna, Kogi and Zamfara, which on February 3rd filed a suit seeking to halt the implementation of the CBN’s policy.
In a new development, more States have filed to join Kogi, Kaduna and Zamfara States in suit, while it was gathered others may still join in interest.
At resumption of sitting last Wednesday, the Apex Court in Abuja adjourned the hearing to Wednesday, 22nd February 2023.
Meanwhile, pending hearing, according to the Court, the old order to suspend the ban of the now older N200, N500 and N1000 Naira notes subsists. The President’s broadcast was contrary to the Court’s order, attracting condemnation.
Meanwhile, since February 10, most Banks had continued to refuse collecting old notes of N1,000, N500 and N200 despite the Supreme Court injunction that ruled that the old notes should still be legal tender pending the determination of the suit challenging the introduction of the newly redesigned Naira.
