NAIRA SCARCITY: APC NATIONAL CHAIRMAN URGES CBN TO RESPECT SUPREME COURT INJUNCTION (VIDEO)

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By ‘Leke Yusuf

The National Chairman of the ruling All Progressives Congress (APC), Senator Abdullahi Adamu had called on the Central Bank of Nigeria (CBN) and the Attorney General of the Federation, to respect the Supreme Court pronouncement extending the validity of the old N500 and N1000 notes pending the determination of the suit before it.

Adamu made the call on Sunday evening in Abuja, after a meeting with APC governors and the party’s Presidential Candidate Asiwaju Bola Ahmed Tinubu.

He said “we urge the Attorney General of the Federation and the governor of the Central Bank of Nigeria (CBN) to respect the Supreme Court order on the interim injunction which is still existing.

“The meeting is urging His Excellency, Mr. President to please intervene in resolving the issues that have caused great difficulties to the people.”

President Muhammadu Buhari ordered the apex bank to recirculate N200 and N100 notes. But at press time most ATMs failed to dispense naira notes.

The President had, in a broadcast, last Thursday, approved the use of old N200 notes for 60 days till April 10.

He, however, did not allow the continued use of the old N500 and N1,000 notes.

Buhari’s failure to suspend the policy as demanded by some, especially state governors, further led to attacks from some state governors.

The opposition to the naira redesign is specifically led by governors elected on the platform of APC.

They had earlier taken the matter to the Supreme Court, seeking the stoppage of the policy.

Following the apex court’s adjournment of the case to February 22, 2023, and Buhari’s approval of lower denominations, the opposition by the governors continued.

In apparent disapproval of the President’s directive, some of the governors urged their people to continue using old currency notes, insisting that they were still legal tender.

Those who gave the directive include Governor Nasir El-rufai of Kaduna State, Kano State governor, Abdullahi Ganduje, and Mohammed Badaru of Jigawa State.

The move, apart from setting the state governors on a collision course with the Presidency, has also put the APC in disarray.

One of the state governors in his rejection of Buhari’s latest action on the policy accused the President of attempting to truncate democracy.

The cash scarcity has caused untold hardship to Nigerians ad many complained of having to starve because they cannot get money to buy food.

Also, many commuters had to trek long distances due to their inability to access cash to pay transport fares.