By Oguwuike Nnadi
The directive by President Muhammadu Buhari of the Central Bank of Nigeria (CBN) to re introduced the already faced out old N200 notes as legal tender has continued to attract reactions from different quarters, especially the political class
The President had in a national broadcast on Thursday ordered the CBD to re circulate the old N200 not to exist along with the new notes for a three month period, ending in April
The decision has however attracted reactions from the Speaker of the House of Representatives, Femi Gbajabiamila and the Vice presidential candidate of the Labour Party, Datti Baba Ahmed as both have responded differently to the president’s broadcast
Speaker Femi Gbajabiamila, who faulted the decision of the Federal Government, described it as disregarding the Supreme Court order on the controversial currency swap.
The Supreme Court had last week given an order for the old N1,000, N500 and N200 notes to remain legal tender pending the determination of a case brought before it by some state governors.
The apex court had on Wednesday reiterated its order and adjourned the matter to next week Wednesday.
Gbajabiamila, in a statement he personally signed, said though the president’s directive was a step in the right direction, the Federal Government could not afford situations that “suggest a wanton disregard for the rule of law.”
“This morning, President Muhammadu Buhari, GCFR, announced that he has authorised the Central Bank of Nigeria (CBN) to reintroduce the old N200 notes into circulation, pending when the Bank can make sufficient amounts of the new currency available. This is a step in the right direction, and I hope it helps curb Nigerians’ suffering.
“However, the decision still falls short of the order of the Supreme Court that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation.
“It is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law. It will be better for us to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit,” he said.
Acknowledging the hardship Nigerians face, Gbajabiamila urged the citizens to; “bear this moment with equanimity.
“In all things, let the well-being of our fellow citizens and the survival of our nation be foremost in our hearts and guide all the decisions we make in this historic moment
“It is deeply troubling that neither the intervention of the National Council of State nor an order of the Supreme Court is sufficient to cause the Governor of the Central Bank of Nigeria (CBN) to review the decisions that have brought us to this entirely avoidable moment,” the speaker said.
In his reaction to the development, the Vice Presidential candidate of the Labour Party (LP), Dr. Ahmed Yusuf Datti has faulted the extension of the deadline for the old naira notes to cease to be a legal tender by President Muhammadu Buhari
The LP presidential running mate argued that it is not proper for the president to be shifting ground on such a serious issue few days to the presidential election.
Dati Baba Ahmed who spoke during a courtesy call on the Obi of Onitsha, Igwe Nnaemeka Achebe, said for the president to shift ground twice, there is the possibility that he would extend the deadline again.
He said: “When you see a president bulge once, however small, those mighty people that prevailed on him to bulge will see a reason to press further.
“So, it is a lot of concern for us for the president to change his position literally nine days to the election.
“However, we have recognized the fact that no state Governor, especially those who don’t respect court judgements, can force the federal government to change the policy.
“It has been done and it stays, although it was poorly implemented, just like everything about this government, including our economy, security, as well as the level of corruption which we have been living with.
“We pray that the election would go well so that it can open the space for good governance. “
According to Yusuf Datti, the 2023 general elections would be a test case for Nigeria’s unity, adding that the entire world is waiting on Nigeria to get it right for once
