The Presidency has said that the Governor of Central Bank of Nigeria, Godwin Emefiele has no reason not to comply with the Supreme court judgement on Naira.
Presidency, in a statement on Monday, the said President Muhammadu Buhari did not direct Abubakar Malami, the Attorney General of the Federation (AGF), and Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), not to obey the supreme court ruling on the naira redesign policy.
“The CBN has no reason not to comply with court orders on the excuse of waiting for directives from the President.”
It will be recalled that Supreme Court ruled on March 3 to invalidate the naira redesign policy introduced by the CBN.
The court made the declaration while delivering judgment in a suit instituted by three states of the federation.
A seven-member panel of the apex court held that the old N200, N500, and N1000 notes remain legal tender until December 31, 2023.
The Supreme Court faulted the entire policy of the CBN, saying the timing and implementation were defective.
Since the ruling, neither the CBN governor nor the AGF has made any official statement about compliance with the apex court ruling.
Reacting to the public concerns about the failure of the apex bank to comply with the ruling, the presidency in the statement insisted that there was no time that the president directed the AGF and CBN governor not to obey the ruling.
“The Presidency wishes to react to some public concerns that President Buhari did not react to the Supreme Court judgement on the issue of the N500 and N1,000 old currency notes, and state here plainly and clearly that. at no time did he instruct the Attorney General and the CBN Governor to disobey any court orders involving the government and other parties,” the statement reads.
“Since the President was sworn into office in 2015, he has never directed anybody to defy court orders, in the strong belief that we can’t practise democracy without the rule of law, and the commitment of his administration to this principle has not changed.”
“Following ongoing intense debate about the compliance concerning the legality of the old currency notes, the Presidency therefore wishes to state clearly that Pres. Buhari has not done anything knowingly & deliberately to interfere with or obstruct the administration of justice.”
“The President is not a micromanager and will not, therefore, stop the AG and CBN Gov from performing 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, of the orders of the apex Court.:
“The directive of the President, following the meeting of the Council of State, is that the Bank must make available for circulation all the money that is needed and nothing has happened to change the position.”
“It is an established fact that the President is an absolute respecter of judicial process and the authority of the courts.”
“He has done nothing in the last eight or so years to act in any way to obstruct the administration of justice, cause lack of confidence in the administration of justice, or otherwise interfere or corrupt the courts and there is no reason whatsoever that he should do so now when he is getting ready to leave office.”