Buhari’s Speech, Decision Offered No Hope – Falana

ECOWAS Can't Invade Niger Republic Without UN's Approval - Falana

Human rights lawyer and Senior Advocate of Nigeria (SAN) Femi Falana (SAN) says the Nigerian people’s suffering is worsening as a result of the currency crisis, adding that President Muhammadu Buhari’s Thursday broadcast offered no hope.

This was stated by the Chairman of the Alliance on Surviving Covid 19 and Beyond (ASCAB) in a statement signed on Thursday.

According to him, Buhari’s decision to allow only the N200 note to circulate while keeping the old N500 and N1000 notes out of circulation is insufficient to end the crisis, as there are insufficient old 200 naira notes to replace all of the old N1,000 and N500 notes.

Falana stated that the “crisis” was created by the government and that only the government can end it. He predicted that unless strong action is taken, “this crisis will worsen in the days ahead.”

The Senior Advocate also stated that the President’s decision to remove old N500 and N1000 notes from legal tender has no legal effect because it violates Section 287(1) of the Constitution.

He urged the Federal Government to follow the Supreme Court’s order that the old notes remain legal tender without further delay.

See the full statement below:


The suffering of the Nigerian people is getting worse by the day. President Buhari in his message to the nation gave no hope that this suffering will end anytime soon. We need action now to reverse the fuel price increases and to make money available again. Our suffering cannot continue – we cannot live like this.

After 13 days (rather than seven) President Buhari eventually announced a decision this morning. But it is not enough to end the crisis. There are not enough old 200 naira notes to replace all the old N1,000 and N500 notes. In addition, the new deadline of 10th of April is too close.

If the government was serious, the crisis could be ended in a few days. All the old currency notes could be made legal tender until the end of the year. In addition, all the old currency could be changed at the banks as well as at the CBN until the end of next year. This would give confidence back in the markets and the old currency would again be accepted.

The problem is that the corrupt elite think that increased suffering and deaths of the common people is a price worth paying if they defeat their opponents.

Hungry people can no longer buy food and so they are in more danger of dying from common diseases. People cannot afford to travel to hospital. If they get there they cannot afford tests. If they take the tests they cannot afford the medicine.

This crisis was created by the government. It is only the government that can end the crisis. The government could end this crisis in a matter of days. The CBN could issue old currency notes to the banks to issue to the public in a matter of days.

That is all that is needed to end the crisis. The untold crisis across the country, the misery, suffering and deaths are a result of a fight between different clans of the corrupt elite. The common people are suffering as a result of disputes over who will loot for the next four years or more.

Unless firm action is taken, this crisis will get worse in the days to come. The suffering and anger is likely to make violence around the election worse. Then we still have to suffer the Buhari Government for at least another three months. Any alternative to this will only make the situation worse.


On February 8, 2023, the Supreme Court ordered the Federal Government, Central Bank and all commercial banks to allow the old Naira notes to remain legal tender in Nigeria. The order became necessary as sufficient currency notes have not been printed by the Central Bank of Nigeria. The order was reiterated yesterday as the Supreme Court enjoined the lawyers of the Federal Government to advise their clients to ensure compliance with the court order.

In a national address delivered this morning, President Muhammadu Buhari announced that he had given “approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.”

Thus, the President has ruled out old N500 and N1000 notes as legal tender in Nigeria contrary to the clear and unambiguous order of the Supreme Court.

With respect, the decision of the President to exclude old N500 and N1000 notes from the legal tender of Nigeria is of no legal effect as it constitutes a contravention of section 287(1) of the Constitution which provides that “the decisions of the Supreme court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme court.”

In 1983, a public officer was suspended from office. He approached the Lagos State High Court for legal redress. While the case was pending, the then military dictator, Major General Muhammadu Buhari dismissed the officer “in the public interest” under the Public Officers (Special Provisions) Decree No 17 of 1984. In setting aside the purported dismissal, the Supreme Court berated the military junta in the case of Garba vs. Federal Civil Service Commission (1998) 1 NWLR (PT 71) 449 at 453 – 454. Speaking for the apex court, Justice Kayode Eso said inter alia:

What remains now is an examination of the act of the Respondents in dismissing the Appellant from office during the pendency of the action. Such action, I think is contemptuous of the judiciary, which has been seized with determination of civil right under the constitution and which has been left unscathed by all military coups.

For the judiciary, a powerful arm of government to operate under the rule of law, full confidence, and this must be unadultarated, must exist in that institution. It must indeed be demonstrably shown especially if it is the other arms of government that are involved. In civil days, both the Executive and the Legislation must show to the entire nation their demonstrable confidence in the judiciary.

The responsibility is greater during military rule. The military in coming to power is usually faced with the question as to whether to establish a rule of law or rule of force. While the latter could be justifiable a rule of terror, once the path of law is chosen the mighty arm of government, the militia which is an embodiment of legislature and executive must in humility bow to the rule of law thus permitted to exist.”

In view of the foregoing, we urge the Federal Government to comply with the judgment of the Supreme Court without any further delay. After all, President says loudly that he has since become a converted democrat.

Femi Falana SAN,
The Chair,
Alliance on Surviving
COVID-19 and Beyond (ASCAB)

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