February 20, (THEWILL) – The All Progressives Congress (APC) has urged the Attorney General of the Federation, Abubakar Malami (SAN) and the Central Bank of Nigeria (CBN), to respect the subsisting Supreme Court order of interim injunction on currency swap.
National Chairman of the party, Abdullahi Adamu, gave the charge as part of resolutions of a meeting of the party leadership with Governors, as well as its presidential candidate, Bola Ahmed Tinubu, in Abuja, on Sunday.
The meeting had in attendance Governors of Kaduna State, Nasiru El-Rufai; Mohammed Bello of Niger, Abdulahi Sule of Nasarawa, Yahaya Bello of Kogi State, Inuwa Yahaya of Gombe State, Bello Matawalle of Zamfara, Mai Mala Buni of Yobe, Abubakar Badaru of Jigawa, Biodun Oyebanji of Ekiti, Simon Lalong of Plateau and the Deputy Governor of Imo State, Placid Njoku, and Mohammed Manir Yakubu, Deputy Katsina State Governor.
The apex court had restrained the Federal Government from implementing the February 10 deadline to phase out the old N1,000, N500 and N200 notes.
However, while directing the CBN to recirculate the old N200 note to the financial system to ease the current cash crunch, President Buhari in a nationwide broadcast on Thursday, insisted that the N500 and N1000 notes remain illegal and phased out.
“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.
“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points,” Buhari directed in his State of the Nation address.
Adamu noted that the cashless policy and its implementation are causing tremendous difficulties for the people of Nigeria and the national economy.
He said: “I am sure you are quite aware of the fact that a meeting comprising of APC Governors was held today and the leadership of the NWC of our great party was summoned for this afternoon and we had discussion.
“At the end of the discussion, we have resolved as follows and this resolution is without prejudice or whatsoever to the case that is lying at the Supreme Court, at this point in time. This has to do with the issue of currency redesign.
“We note very seriously that the programme and its implementation are causing tremendous difficulties to the people of Nigeria and the national economy.
“We urge the Attorney General of the Federation and the Governor of the Central Bank of Nigeria, to respect the Supreme Court order of Interim injunction, which is still subsisting.
“The meeting is urging his Excellency, Mr President to intervene in resolving issues that are causing this great difficulties to the economy.”
Also speaking, Atiku Bagudu, the Chairman of the APC Governors Forum, said they have been doing a tremendous job with the party’s leadership in mobilising support for its victory at the polls.
“Once the Chairman spoke, the Governors and the party are one and the same. And I am very proud about the conduct of our campaign by our presidential candidate.
“Director General of the Campaign and indeed, Governors and the candidate across the country have been doing a tremendous job of mobilising the Nigerian populace and we are very, very impressed with the support of the majority of Nigeria,” he said.
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