Friday, March 31, 2023

New Naira: Disclose How You’re Obeying Supreme Court Orders – SERAP Tells Buhari

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The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to reveal the measures his administration is putting in place to execute the recent Supreme Court order on the naira redesign.

The Supreme Court Last week had extended the validity of the old N200, N500, and N1,000 Naira notes till 31 December. The ruling stated the President’s directive on the redesign of the new notes without due consultation is invalid. The court however ordered the Central Bank of Nigeria to continue to receive the notes from Nigerians.

READ ALSO: Naira Notes: We Will Obey CBN, Not Supreme Court – Banks

Reacting to this, SERAP in a statement on Sunday by its deputy director Kolawole Oluwadare, urged Buhari to reveal a detailed plan the federal government is taking to immediately and effectively obey the Supreme Court decision on extending the validity of the old naira notes.

Speaking further, SERAP also implore the President to publicly instruct the CBN to immediately and effectively implement the Supreme Court decision ordering an end to the cash withdrawal limits imposed by banks because such restrictions violate citizens’ right to freely use their property.

READ ALSO: Supreme Court Orders Old N200, N500, N1,000 Notes To Remain Legal Tender Till Dec 31

“There is an overriding public interest in disclosing the details of the measures your government and the CBN are taking to effectively and satisfactorily obey the Supreme Court decision.”

SERAP also explained that once the federal government lay out its plan to implement the Supreme Court’s ruling to alleviate the challenges Nigerians as a result of naira scarcity, it would boost the public’s confidence in his government.

“Disclosing the measures that your government and the CBN are taking to implement the Supreme Court decision would also enable Nigerians to monitor and scrutinize the level of compliance with the decision.

“The public should not be kept in the dark on what your government and the CBN are doing to implement the decision. Widely publishing the implementation measures would also improve accountability of state officials and public confidence in the rule of law and Nigeria’s democracy.”


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