Oba Abdulrosheed Adewale Akanbi, the Paramount King of Iwoland, has pleaded with President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN) to carry out the Supreme Court judgement and recirculate old naira notes.
The president’s and CBN’s silence over the verdict, according to Oba Akanbi, is a grave insult that could reduce the judiciary to the status of a government paperweight.
As a result of three governors’ challenges to the federal government’s currency policy—Nasir El-Rufai of Kaduna state, Yahaya Bello of Kogi state, and Bello Matawalle of Zamfara state—the apex court ruled on Friday that the N1,000, N500, and N200 notes will continue to be legal tender until December 31, 2023.
Yet, because the CBN is silent on the subject, commercial banks are unable to distribute old naira notes in accordance with the Supreme Court’s decision.
In response, Oluwo bemoaned the miseries of Nigerians as a result of the naira’s devaluation and urged the government to take note of the plight of the populace.
He feared that the FG and CBN’s continued silence will worsen the starvation of Nigerians and have an impact on the national economy.
He implored Buhari to give the CBN instructions regarding the new naira note recirculation that the supreme court had assured.
The monarch made this known on Monday in a statement read by Alli Ibraheem, his press secretary.
It stated, “The federal government has a need to respect the sanctity of judiciary by respecting the Supreme Court judgment on the new naira note recirculation.
Nigerians are in need. To revive faith in the judiciary, I implore President Muhammadu Buhari to evaluate the new naira regime.
“It is pitiful to see us stuck in this naira mess where you have money in your account but can’t access cash to buy basic bottled water. The majority, artisanal workers, and small-time business owners without accounts are affected the most. Nigerians can no longer put up with this suffering. The Supreme Court has ruled. Please, CBN and the federal government, pay attention.
If the naira authorities remain silent, the judiciary would become little more than a paperweight, according to the supreme court’s order. I hope and dread that the nation won’t descend into anarchy as a result of continued quiet.
