By Kayode Fasua
A socio-political organization, Social Rehabilitation Gruppe (SRG), has frowned on what it describes as the reluctance of the federal government to obey the order of the Supreme Court, declaring old Naira notes of N200, N500, and N1000 as legal tenders.
A seven-member panel of the apex court led by Hon. Justice John Okoro, unanimously directed that the Central Bank of Nigeria (CBN) must continue to receive the old notes from Nigerians.
The court also held that the directive of President Muhammadu Buhari for the redesign of the new notes and withdrawal of the old notes without due consultation is invalid.
Reacting however, the SRG, in a statement by its Convener/ National Coordinator, Dr. Marindoti Oludare, said it marveled to find that 48 hours after the Supreme Court’s judgment, the federal government was yet to obey the verdict.
It thus warned, saying, “President Muhammadu Buhari, Attorney General and Minister of Justice, Mr. Abubakar Malami (SAN), and the CBN Governor, Mr. Godwin Emefiele must be held in contempt as deterrence for future presidents.”This is because, if the court fails to act, then it is setting a precedence.”
The group added that there was no justification for retaining the judicially quashed CBN monetary policy since the President-elect, Asiwaju Bola Tinubu, had indicated that he would review it.”If they care about Nigeria, then they must comply; more so as the President-elect has indicated that he does not intend to continue with the policy when he gets inaugurated on May 29.
“That, the policy was reckless and an ill-conceived one, as it never considered what policy the in-coming administration would do.
“It was designed to serve as an albatross for the new administration by the sunsetting one, and since the President-elect is clear, the executive arm should stop further plunging Nigeria into a constitutional crisis,” the SRG warned.
Meanwhile, the Federal High Court sitting in Akure, Ondo State, will hear a suit filed against the CBN by Oludare, the SRG, and two others, over the apex bank’s invalidation of the N200, N500, and N1000 notes, on March 30, this year.