The Presidency clarified on Monday that the Central Bank of Nigeria (CBN) is awaiting instructions from President Muhammadu Buhari and not disobeying Supreme Court’s naira redesign order.
Garba Shehu, Senior Special Assistant to the President on Media and Publicity, said in a statement that the President never told the Attorney General of the Federation (AGF), Abubakar Malami, or the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to disobey any court orders involving the government and other parties.
On March 3, the court ruled that old N200, N500, and N1000 notes would be valid until December 31, 2023.
Following the Supreme Court’s March 3 decision, the Presidency, CBN, and AGF remained silent, leaving many bank customers and Nigerians perplexed, as the ruling contradicted the President’s directive on February 16 that old N500 and N1000 notes are banned, while old N200 notes remain valid until April 10.
The Presidency, on the other hand, broke its silence on Monday, claiming that the President never told the CBN or the AGF not to obey the Supreme Court’s order.
“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 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. 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,” the Presidency stated.
The statement noted that President Buhari is an absolute respecter of the rule of law and that the “negative campaign and personalised attacks against the President by the opposition and all manner of commentators is unfair and unjust”.
“As for the cashless system the CBN is determined to put in place, it is a known fact that many of the country’s citizens who bear the brunt of the sufferings, surprisingly support the policy as they believe that the action would cut corruption, fight terrorism, build an environment of honesty and reinforce the incorruptible leadership of the President.
“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,” the statement added.
