Bola Badmus
A Civil Society Organization (CSO), the Centre for Social and Economic Rights (CSER) has faulted President Muhammadu Buhari for affirming in his presidential broadcast only the old N200 notes as valid legal tender as against the old N500 and N1000 notes from the speech are no longer legal tender in the country, describing such pronouncement as not only unfortunate but equally contempt of court.
Buhari made this known in his presidential broadcast made early Thursday morning in response to the naira redesign policy implementation crisis ravaging the country.
The right group gave this position on Thursday in a press statement issued by its Executive Director, Nelson Ekujumi, saying it was at a loss as to where in the 1999 Constitution of the Federal Republic of Nigeria, Mr President derived the power to override the pronouncement of the Supreme Court via a presidential broadcast.
The Supreme Court had adjourned till February 22, 2023, ruling on the naira redesign, which has occasioned scarcity of the notes but had in its earlier ruling dismissed the February 10, 2023 deadline set by the Central Bank of Nigeria (CBN), saying that both the old and new notes should remain in circulation.
This was just as CSER condemned in strongest terms the violence that had broken out in some parts of the country as a result of what it described as the wicked, insensitive, irresponsible and provocative implementation of the naira redesign policy by CBN “which has subjected Nigerians to untold hardship, pains, agony and deprivations of their personal and legitimate money domiciled in banks.”
Speaking on the president’s broadcast Nelson Ekujumi noted that, it is not in doubt that Nigeria operates a constitutional democracy in which the law of the land is supreme as individuals, groups and institutions were subject to the provisions of the law.
“We are aware that the President Muhammadu Buhari administration prides itself as a respecter of the rule of law, we are also aware that only yesterday 15th February 2023, the Supreme Court ruled that its order on the dateline extension of the old N200, N500 and N1000 naira as legal tender subsists till the next adjourned date of 22nd February 2023.
“Therefore, we are at CSER are at a loss as to where in the constitution of the Federal Republic of Nigeria, Mr President derives the power to override the pronouncement of the court via a presidential broadcast.
“As stated by Mr President in his presidential speech today, he made allusion to the matter being in court and we would have expected him to have taken judicial notice of the court pronouncement in his speech, but which unfortunately and sadly was not the case,” the group said.
“With all due respect, Mr President by the presidential broadcast of recognizing only the old N200 as legal tender and pronouncing the old N500 and N1000 notes as no longer legal tender is by law liable for contempt of court which is unfortunate,” it added.
On the violence that had broken out in some parts of the country as a result of the implementation of the naira redesign policy, Ekujumi expressed the group’s sadness over the issue, which, according to him, had caused the destruction of properties and likely loss of life.
“We are saddened and traumatized by the pains and anguish inflicted on innocent Nigerians by the inhuman implementation of this policy which has degenerated to pockets of violence and its attendant destruction of properties and likely loss of life.
“We condemn the violence in its entirety and call on Nigerians to remain calm and not to fall prey to the plots of anti-democratic elements whose major goal is to truncate the smooth conduct of the 2023 General Elections,” he said.
The group stated that it sympathized with Nigerians for enduring the pains and agony inflicted by the policy so far and urged them to continue to keep the peace because “together we shall weather and overcome this storm.”
CSER, however, said it wanted it placed on record that the blame for this violence should be placed squarely at the doorstep of the CBN management and the Federal Government for their insensitivity to the pains of ordinary Nigerians in accessing their personal and legitimate funds which are condemnable and unacceptable.
“We also want to use this opportunity to call on Nigerians to take electoral notice of politicians and political parties who have sided with the people in these trying times as against those gloating and calling on the CBN to remain resolute in inflicting pains on the suffering Nigerians.
“They have exposed themselves as who they are as enemies of the people who wish us no good but are only pretending and should be rejected at the polls.
“Therefore, as we call on Nigerians to remain calm and not resort to violence in resolving this CBN-inflicted crisis, we demand that Mr President retract that part of his speech in obedience to the Supreme Court ruling that the old N200, N500 and N1000 remain legal tender till the determination of the suit whose next hearing is slated for the 22nd of February 2023.
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