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–Pix(above, R-L): PMB and Emefiele
President Muhammadu Buhari on Wednesday, February 8, met with the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, in the Presidential Villa, Abuja, over the Supreme Court ruling on February 10 deadline stoppage for old naira notes validity.
Their meeting is coming hours after the Supreme Court ruling in Abuja.
Although the outcome of the meeting is not yet public, inside Aso Rock sources said it might not be unconnected with the Supreme Court ruling, with a view to forging the way forward.
A seven-man panel of the Supreme Court led by Justice John Okoro, had, in a unanimous ruling, granted the interim injunction of an ex parte motion filed by three APC states of Kogi, Kaduna, and Zamfara.
Delivering ruling in the motion, Okoro, held that after a careful consideration of the motion ex-parte, this application is granted as prayed.
“An order of Interim Injunction restraining the Federal Government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10, as the time frame within which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender, pending the hearing and determination of their motion on notice for interlocutory injunction.”
He accordingly adjourned until Feb. 15, for hearing of the substantive suit.
Moving the application on Wednesday, counsel to the applicants, Mr A. I. Mustapha, SAN, had urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.
He stated that the policy of the government has led to an “excruciating situation that is almost leading to anarchy in the land.”
While he referred to a Central Bank of Nigeria (CBN)’s statistics which put the number of people who don’t have bank accounts at over 60 percent, Mustapha lamented that the few Nigerians with bank accounts can’t even access their monies from the bank as a result of the cash swap policy.
The senior lawyer further argued that unless the Supreme Court intervenes, the situation will lead to a full-blown anarchy because most banks are already closing operations./SHARE THIS