This is as a High Court of the Federal Capital Territory has restrained the President, Major General Muhammadu Buhari , CBN, its Governor Godwin Emefiele and 27 commercial banks from suspending, stopping, extending or interfering with the currency swap terminal date.
Buhari had asked them to give him seven days to address their complaints, but apparently unimpressed by the President’s pledge, the governors on Monday headed for the Supreme Court to stop the policy. Obaseki endorsed the policy in a post on his official Twitter handle on Monday while Atiku and Obi had argued in separate statements and a Twitter post that the merits of the new naira policy far outweighed the inconveniences Nigerians were experiencing.
However, while asserting the rights of the citizens to reasonable notice, the three governors averred that the 10-day extension by the FG was largely insufficient to address the challenges occasioned by the policy adding that “there is no justifiable basis for the ongoing difficulties.” They were also asking the court to declare that the three-month notice regarding the expiration of the old notes was in gross violation of the provisions of section 20 of the CBN Act, 2007, which specifies that reasonable notice must be given before such a policy.
It read in part, “That the majority of the indigenes of the plaintiffs’ states who reside in the rural areas have been unable to exchange or deposit their old naira notes as there are no banks in the rural areas where the majority of the population of the states reside. “I know that if the Federal Government of Nigeria had given sufficient and reasonable time for the naira redesign policy, all the current hardship and loss being experienced by the plaintiffs’ state governments as well as people in the various states would have been avoided.
“Despite the assurance of the Federal Government of Nigeria that the new naira notes would be in circulation by mid-December 2022, the new notes were not made available by the government to Nigerians.
Pure rubbish.
Forget about the new Naira notes,why is N100 & N50 scarce? Why are banks not paying N100/N50 to customers? Is N1k/N500/N200 the only currency in Nigeria? GodwinIEmefiele cenbank intentionally sabotaged the economy to provoke the masses. Hunger protest is different from EndSars
It should be Govs, APC faction begins legal battle over Buhari naira redesign policy.
Like the saying'if breeze blow,fowl yansh go open'. They're running to court now because the CBN policy has clipped their corrupt wings making it impossible to manipulate the system with stolen funds.None went to court over insecurity,crude oil theft, snake swallowing money etc
APC criminals crying over naria redesign 😁😁😁😁😁😁😁
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