Ondo State Governor Rotimi Akeredolu has praised the Supreme Court for dismissing the Muhammadu Buhari administration’s naira redesign and cash swap policy deadline.
Remember that the Supreme Court overturned the restriction on the use of old N200, N500, and N1000 banknotes as lawful tender on Friday.
In a unanimous ruling by a seven-member panel of Justices, the Supreme Court ruled that the old banknotes should remain legal tender until December 31.
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The court had chastised the President for defying its earlier decision and ordered the cancellation of all old 500 and 1000 naira notes, claiming that such an action damaged the democratic system of governance.
In a statement to Naija News, Akeredolu stated that the government and people of Ondo State were relieved by the Supreme Court’s decision.
The Governor praised the Supreme Court Justices’ diligence and bravery in reaching their decision.
Akeredolu accused Godwin Emefiele, Governor of the Central Bank of Nigeria, and Abubakar Malami, Minister of Justice and Attorney General of the Federation, of providing Buhari bad advice.
He said: “The CBN Governor and the Attorney General of the Federation and Minister of Justice misadvised the President to assume powers of an Emperor answerable only to himself and no other authorities as enshrined in the law.
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“It is deplorable to witness small businesses collapse with unbelievable rapidity. We have been regaled with tales of the dehumanisation of ordinary Nigerians who have been forced to strip themselves naked in banking halls weeping to be given their monies kept with the banks. Some have lost their lives, needlessly, for being unable to access their deposits in the banks upon demand.
“The Governor of the CBN acted most irresponsibly when he claimed to be exercising powers, which the CBN Act does not invest in his office. He was quoted as saying that he was fighting corruption, money laundering and vote- buying. He acted, ultra vires, goaded by his political permutations.
“The AGF equally misled the President to act beyond the limits of his executive powers. Nigerians have been punished unduly.As the Supreme Court has pronounced, the law must be allowed to rule. There are statutory functions allotted to bodies in the 1999 Constitution, as amended. These bodies must be allowed to exercise those functions. Anyone purporting to act in contravention of the extant laws does so, either ignorantly or mischievously. The letters of the law are simple and understandable if the people in authority embrace less mischief.
Old naira Notes Legal Tender Till December 31 – Supreme Court
“We enjoin the Federal Government to obey the ruling of the Supreme Court immediately as there is no other alternative open to it.
We commend the states that challenged this offensive policy execution and hope that our banks will immediately release the deposits of Nigerians in their possession upon demand, as continuing confiscation of individuals’ hard-earned funds will have serious implications.
“There is no gain asserting the obvious. The whole policy may have been well conceived. Its implementation has been politically driven. The CBN Governor is a partisan of injustice and oppression. Most Governments, perhaps with the exception of a negligible few motivated by the possibility of deriving unexpressed political advantages, cannot meet simple obligations to their citizens. It is most unfortunate.
“As we enjoin the officials of the Federal Government who may be directly involved in putting into effect the spirit and the letter of the Supreme Court ruling to do so immediately, the Ondo State Government will not hesitate to proceed against persons and institutions whose activities impede its ability to discharge statutory obligations to the people.
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“There is no justification for the pains to which our people have been subjected for obvious political reasons.”
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