Naira Notes: Emefiele’s CBN Has No Excuse To Disobey S’ Court Order –Presidency

Posted by Niyi Adeyi Featured, Latest Headlines, News, News Across Nigeria, News From The State Monday, March 13th, 2023

(AFRICAN EXAMINER) – The Presidency has exonerated President Mohammadu Buhari of any blame for not implementing the supreme court judgment on Nigeria’s new monetary policy.

A statement from the Presidency also absolved the president of insinuation that he instructed the CBN and the attorney general of the federation of not implementing the supreme court judgment directing that old naira notes should remain legal tender until December 2023.

Recall that last week the supreme court ruled against the CBN, AG and the federal government that the old naira notes should remain a legal tender until December.

African Examiner reports that since last week the CBN has refused to implement the judgment until today (Monday) on the excuse that the President has not authorized the implementation of the supreme court judgment, a situation that has thrown the country into further unnecessary hardship.

Reacting to the knocks and backlash that the issue has brought to the person and character of the President, the Presidency pushed back on the attack noting that the President would not have told the CBN not to implement the Supreme court ruling.

“It is 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.

“President Buhari has also rejected the impression that he lacks compassion,” part of the statement reads