Naira Crisis Has Brought Hunger, Anger, Says Sultan

He urged President Muhammadu Buhari to address the problem to prevent an uprising. The new naira scarcity has been worsened by the refusal of banks to accept the deposit of old notes.

As a result, many businesses yesterday insisted on only new notes. But, lawyers said it amounted to contempt for the Central Bank of Nigeria (CBN) not to have directed banks to continue to accept the old notes in line with the Supreme Court order.

Last Wednesday, the Supreme Court, in a case filed by Kaduna, Kogi and Zamfara states, barred the Federal Government or CBN from enforcing the February 10 deadline for the use of old naira notes.

In a unanimous ruling by a seven-member panel, led by Justice John Okoro, it held that the “interim injunction” will subsist “pending the hearing and determination of the plaintiffs/applicants’ motion on notice for interlocutory injunction.”

Worried by the naira crisis, the Sultan said it has made life unbearable.

The royal father said: “Let’s keep politics aside. The issues of development, especially for the common man, (should be prioritised).

READ ALSO: Kano Govt Shuts Down Supermarket For Refusing Old Naira Note

“These people that God Almighty gave leadership over, one day, God forbid, will rise (against us).

“After all the English by professors (at the conference), how do we get these developments down to the common man who is a farmer, the common Fulani man who doesn’t know anything about development? He only cares about cattle.

READ ALSO:Naira Scarcity: Buhari, Emefiele Meet Again

“The people are hungry – is there money? People are angry and hungry. Let’s see how we can douse the tension.”

The Sultan is not the only one worried about the developments.

Kano, Ekiti, Niger and Ondo states have applied to join the Supreme Court case, which comes up for hearing tomorrow.

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Photo Credit: Getty