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Old naira: Tinubu commends govs over S’Court ruling


Wilson Adekumola

Presidential candidate of the All Progressives Congress, Asiwaju Bola Ahmed Tinubu has praised the APC governors for their courage over Supreme Court ruling saying they have saved Nigerians from needless political and economic crisis.

The Supreme Court had on Wednesday morning restrained the Central Bank of Nigeria, Federal Government and other 27 commercial banks from implementing the deadline on new aira and cashless policies.

In a statement issued on Wednesday and signed by Bayo Onanuga Director, Media & Publicity APC PCC, Tinubu said the Governors especially the APC Governors who instituted the suit against the CBN and Federal Government at the Supreme Court have relieved the pains hapless Nigerians who have been made to face the consequence of naira redesign policy that has not been properly implemented.

According to Tribune, the Supreme Court had on Wednesday morning gave an interim injunction against CBN and the Federal Government allowing the old N200, N500, N1000 to remain legal tender beyond February 10 deadline until the case is fully disposed in a lawsuit brought before it by governments of Zamfara, Kogi and Kaduna.

While praising the governors for their bold steps to save the country from the social unrest, the former Lagos State governor said “by seeking redress in the court and the apex court ruling, the governors have saved the country from needless political and economic crises and miseries which have clearly become the unintended consequences of the monetary policy of the apex bank”.

Tinubu maintained that the Supreme Court ruling aligned with the advisory of the International Monetary Fund urging for the shift of the deadline for the transition of currency, with regards to the problems being faced across the country in getting the new notes.

“I want to salute the courage of our Governors and most especially the Progressives Governors in APC who acted to save our country from avoidable and dangerous political crises and social unrest which the Central Bank policy on new Naira notes has brought on our country.

“Our country was dangerously careering toward anarchy and political and economic shutdown. But with the Supreme Court interim ruling, our country has been pulled back from the precipice. We thank our Supreme Court Justices for ruling wisely on the side of the people who have been subjected to undue agony and pain since this policy was announced.

“The Federal Government and relevant stakeholders can now sit down and work out better framework on how to proceed with the new policy without causing any social and economic disruption and inconvenience to our people. We have examples of other countries that have successfully and seamlessly changed their currencies to learn from.

“Those countries give a long time, at least 12 months to effect the currency change. They do not engage in a CBN-like Fire Brigade approach.

“We have seen how a good policy can be poorly implemented to cause unintended problems for the people who should be the beneficiaries. While lessons have been learned, we must now move on as a country and people with a Renewed Hope for a better tomorrow.

“The sole aim of my running to be the president of our country is to make life better and more abundant for our people and this is an ideal for which I will remain eternally committed to.”

Tinubu also urged the CBN to ensure that the Supreme Court ruling is properly executed by taking all necessary steps to (i) ensure sufficient availability of Naira notes (whether old or new) and (ii) properly sensitising the public on the ruling and the consequent validity of old Naira.

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