Naira: Presidency distances Buhari from CBN disobedience of S’Court order

The Presidency on Monday absorbed President Muhammadu Buhari of any blame in the Central Bank of Nigeria’s noncompliance with the Supreme Court order on the validity of naira notes.

Presidential spokesman Garba Shehu said this in a statement, saying Buhari never asked the CBN to disobey the Supreme Court judgment.

He also rejected the impression by some commentators that Buhari lacked compassion, stressing that no government had introduced policies to help economically marginalised and vulnerable groups like the present administration.

Indeed, the Presidency said Buhari had not been a micromanager and had never directed any disobedience of court order or prevented any government institutions including the CBN and the Attorney General of the Federation from performing their basic functions optimally.

The statement read in part, “It is therefore wide off the mark to blame the President for the current controversy over the cash scarcity, despite the Supreme Court judgement. The CBN has no reason not to comply with court orders on the excuse of waiting for directives from the President,

“Since the President was sworn into office in 2015, he has never directed anybody to defy court orders, in the strong belief that we can’t practise democracy without the rule of law and the commitment of his administration to this principle has not changed.

“Following the ongoing intense debate about the compliance concerning the legality of the old currency notes, the Presidency therefore wishes to state clearly that President Buhari has not done anything knowingly and deliberately to interfere with or obstruct the administration of justice.”

The Presidency’s reaction came 10 days after the Supreme Court extended the validity of all old naira notes till December 31 2023.

The Supreme Court faulted the naira redesign policy by the Central Bank of Nigeria (CBN), declaring the naira notes swap implementation invalid and an affront to the 1999 Constitution.

Despite the order, cash scarcity continued nationwide with commercial activities being frustrated.

Amid the cash crunch and the silence of Buhari, many suggested that the CBN Governor Godwin Emefiele was acting on the President’s directive not to obey the Supreme Court.

The Presidency, however, distanced Buhari from the scarcity of cash and the noncompliance with the Supreme Court order.

It stated, “The President is not a micromanager and will not, therefore, stop the Attorney General and the CBN Governor from performing the details of their duties in accordance with the law,” Shehu said.

“In any case. it is debatable at this time if there is proof of willful denial by the two of them on the orders of the apex court.”

Shehu insisted that Buhari’s directive after the meeting of the Council of State is that the CBN must make all needed cash available for circulation.

“It is an established fact that the President is an absolute respecter of judicial process and the authority of the courts,” Shehu said.

“He has done nothing in the last eight or so years to act in any way to obstruct the administration of justice, cause lack of confidence in the administration of justice, or otherwise interfere or corrupt the courts and there is no reason whatsoever that he should do so now when he is getting ready to leave office.

“The negative campaign and personalised attacks against the President by the opposition and all manner of commentators is unfair and unjust, as no court order at any level has been issued or directed at him.”