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Naira Crisis: CBN Has No Reason To Disobey Supreme Court – Presidency

by Eucharia Egwuma
March 13, 2023
in National, Headlines
Reading Time: 2 mins read
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Naira Redesign: Buhari Accuses Banks Of ‘Greed’ 
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The Presidency has finally reacted to the Supreme Court judgment allowing the N500 and N1000 old notes to circulate side by side with the new notes till December 31, 2023.

According to the statement issued on Monday evening by Garba Shehu, Senior Special Assistant on Media and Publicity to the President, President Muhammadu Buhari at no point instruct the governor of the Central Bank of Nigeria, Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to disobey court orders.

He said it is not necessary for the president to issue a directive before the CBN obey the Supreme Court orders.

Buhari further carpeted the CBN Governor, Godwin Emefiele, insisting it is wide off the mark to blame him (Buhari) for the current controversy over the cash scarcity, despite the Supreme Court judgement.

Shehu said, “The presidency wishes to react to some public concerns that President Muhammadu Buhari did not react to the Supreme Court judgement on the issue of the N500 and N1,000 old currency notes, and states here plainly and clearly that at no time did he instruct the Attorney General and the CBN Governor to disobey any court orders involving the government and other parties.”

“Following the ongoing intense debate about the compliance concerning the legality of the old currency notes, the Presidency therefore wishes to state clearly that President Buhari has not done anything knowingly and deliberately to interfere with or obstruct the administration of justice.

“The President is not a micromanager and will not, therefore, stop the Attorney General and the CBN Governor from performing the details of their duties in accordance with the law. In any case. It is debatable at this time if there is proof of willful denial by the two of them on the orders of the apex court.”

The statement further stated that no court order has been directed at Buhari, so it is unfair to attack the president.

Buhari also added that many Nigerians who suffer from the cashless policy are in support of it because they believe it will curb corruption and fight terrorism.

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Tags: Central Bank of Nigeria (CBN)Federal Government of NigeriaGodwin EmefieleMuhammadu BuhariNaira crisisNaira scarcityNew naira notesPresidencySupreme Court of Nigeria
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