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Muhammad Sabiu
The mouthpiece of the North, Arewa Consultative Forum (ACF), has advised President Muhammadu Buhari to comply with the ruling of the Supreme Court on Naira notes which made the 200, 500 and 1,000 old naira notes as legal tender to avert social unrest.
In a statement issued by the forum’s Secretary General, Murtala Aliyu and made available to newsmen in Kaduna on Sunday noted that “Some ten days ago, the Supreme Court of Nigeria held that the President, Muhammadu Buhari, breached the Constitution of Nigeria in the way he issued a directive to the CBN for the redesign of the Naira without consulting with the National Council of States and the Federal Executive Council.
The statement further said the apex court ruled that the unconstitutional use of powers by the President on the Naira redesign has breached the fundamental rights of Nigerian citizens in various ways.
“The state Governors have persistently argued that the policy which permitted the CBN to place an embargo on the circulation of old N500 and N1,000 Naira notes while not providing their replacement in sufficient amounts, had triggered severe cash shortage and chaos in the economy.
” It has led to runaway inflation in food and other commodities. Huge crowds and long queues form around bank offices and ATM points across the country as people struggle to get new cash which has remained extremely scarce.
” It has triggered riots and other forms of civil unrest.
“The current approach of the CBN”, argued the state Governors, ” raises concerns about the respect for the civil liberties and rights of Nigerians as it relates to their freedom to use legitimately earned income as they so wish”.
They believe that the CBN is, in truth, pursuing a policy of “Naira-Confistication,” which would possibly set off a cripplying depression.
Thus, the statement averred that Monday, the 13th of March, 2023, marks the 10th day the Supreme Court of Nigeria ruled that CBN’s Naira Redesign policy is unlawful and that its implementation should stop.
“Whatever the CBN or anyone else says about the benefits of the policy, which are many, is of little comfort as soon as the highest court in the country has deemed that it is, or, at least the manner of its implementation, breaches the law.
” Ten days is long enough time for the government to find its way towards complying with a court order which import is central to the achievement of peace, order and good governance in the country.
To this end, it observed President Buhari is under oath to defend the constitution of Nigeria. As his long-term supporters, we will be remiss if we fail to warn that the much-touted benefits of the Naira redesign can never justify the damage to his credentials as a democrat and a stickler for the rule of law.
“This is quite apart from the real possibility of the crisis morphing into a serious social disorder leading to the possible breakdown of law and order throughout Nigeria. We do not believe nor can we advise him to pay such a heavy price on account of a policy whose immediate goals are not entirely clear to most Nigerians.
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