BREAKING: Buhari tells Emefiele and Malami to follow the Supreme Court's ruling on the old notes. The Central Bank of Nigeria (CBN), acc...
BREAKING: Buhari tells Emefiele and Malami to follow the Supreme Court's ruling on the old notes.
The Central Bank of Nigeria (CBN), according to President Muhammadu Buhari, does not require his instructions before it complies with the Supreme Court decision that extended the expiration date of the old N200, N500, and N1000 notes to December 31, 2023.
On Monday, Buhari spoke out in response to the Supreme Court's ruling from last Friday that the old notes would continue to be valid currency through the end of the year.
According to a statement from Malam Garba Shehu, Senior Special Assistant to the President on Media and Publicity, President Muhammadu Buhari never instructed the Attorney General, Abubakar Malami, or the Governor of the Central Bank of Nigeria, Godwin Emefiele, to disobey the Supreme Court's ruling.
According to the President, "no government in our recent history has established initiatives to support economically marginalized and vulnerable individuals like the present administration," which he used to refute the notion that he lacked compassion.
Following a lengthy and heated debate about the legitimacy of the old currency notes, the Presidency further stated that President Buhari had not acted "knowingly and deliberately" to impede or interfere with the administration of justice.
"The Presidency wishes to react to some public concerns that President Muhammadu Buhari did not respond to the Supreme Court's ruling on the issue of the N500 and N1,000 old currency notes, and states here plainly and clearly that at no time did he instruct the Attorney General and the CBN Governor to disobey any court orders involving the government and other parties," the statement said.
The President has never instructed anyone to disobey court orders since taking office in 2015. He firmly believes that democracy cannot be practiced without the rule of law, and his administration is still committed to upholding this principle.
The Attorney General and the CBN Governor will continue to carry out their responsibilities in accordance with the law since the President does not micromanage. In any case, it is uncertain at this point if the two of them willfully disobeyed the apex court's orders.
Nothing has occurred to alter the President's direction that the Bank must make all the required funds available for circulation following the Council of State meeting.
"It is well known that the President has the utmost regard for the legal system and judicial authorities. He hasn't taken any actions over the past eight or so years to impede the administration of justice, undermine public trust in the justice system, or otherwise meddle with or corrupt the courts, and there is absolutely no reason for him to start doing so now that he is about to leave office.
As no court order of any kind has been issued or aimed at the President, the opposition's negative campaign and individualized attacks on him, as well as those of all kinds of critics, are unfair and wrong.
As for the cashless system the CBN is determined to implement, it is well known that many of the people in the country who suffer the most support the policy because they think it will reduce corruption, fight terrorism, foster an honest environment, and support the President's incorruptible leadership.
So, despite the Supreme Court's ruling, it is incorrect to attribute the current dispute over the cash shortage to the President. Using the justification of awaiting presidential directions, the CBN has no excuse for failing to comply with court rulings.
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