The Speaker of the House of Representatives, Femi Gbajabiamila, on Thursday described the pronouncement by President Muhammadu Buhari on the naira policy as “disregard” of rule of law because it is short of the order of the Supreme Court.
Mr Gbajabiamila in a statement by his spokesperson, Lanre Lasisi, said however that the extension of the legal status of the N200 note is a step in the right direction, and hopes it helps curb Nigerians’ suffering
He noted that Buhari’s pronouncement is short of the directive of the Supreme Court.
The Speaker further noted that the federal government could not afford situations that “suggest a wanton disregard for the rule of law.”
“It is not to the benefit of our country for the federal government to act in ways that suggest a wanton disregard for the rule of law. It will be better for us to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit,” he said.
Mr Gbajabiamila said the inability of the governor of the CBN, Godwin Emefiele, to listen to counsel caused the scarcity of the naira.
On Thursday morning, Mr Buhari, in a nationwide broadcast, said he had instructed the Central Bank of Nigeria (CBN) to reintroduce the old N200 note until 10 April, while the old N1,000 and N500 had stopped being legal tender.
The Supreme Court had in an interim order on 8 February ordered the central bank to suspend the 10 February deadline on the currency, but the CBN disregarded the order and insisted on the deadline.
Source: PREMIUM TIMES
