Obey Supreme Court judgment on old naira notes, Akeredolu urges FG

Ondo State Governor, Rotimi Akeredolu, has hailed the Supreme Court’s judgment affirming the validity of the old naira notes for the rest of this year.

The governor therefore called on President Muhammadu Buhari to immediately direct Mr Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), to comply with the apex bank’s verdict on the old N1000, N500, and N200 notes.

The seven-member Supreme court, in a unanimous decision, led by Justice Emmanuel Agim, held that the old banknotes should remain legal tenders until December 31, 2023 and be used alongside the redesigned naira notes.

In a statement, Akeredolu said, “We enjoin the Federal Government to obey the ruling of the Supreme Court immediately as there is no other alternative open to it.

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“As we enjoin the officials of the Federal Government who may be directly involved in putting into effect the spirit and the letter of the Supreme Court ruling to do so immediately, the Ondo State Government will not hesitate to proceed against persons and institutions whose activities impede its ability to discharge statutory obligations to the people.”

He noted that the Buhari-led government was “misadvised” by Emefiele and the Attorney General of the Federation and Minister of Justice, Abubakar Malami.
Akeredolu said, “The government and the people of Ondo State received the news of the ruling of the Supreme Court on the punitive implementation of a monetary policy, hurriedly packaged to achieve a pernicious end by Mr Godwin Emefiele, with great relief.

“The CBN governor and the Attorney General of the Federation and Minister of Justice misadvised the President to assume powers of an Emperor answerable only to himself and no other authorities as enshrined in the law.

“It is deplorable to witness small businesses collapse with unbelievable rapidity. We have been regaled with tales of the dehumanisation of ordinary Nigerians who have been forced to strip themselves naked in banking halls weeping to be given their monies kept with the banks. Some have lost their lives, needlessly, for being unable to access their deposits in the banks upon demand.”