In ordinary terms, It is supposed to be SUPREME. It should be superior to all others in authority, power, or status. Notwithstanding, it may have been de-marketed by the same people it should be superior over.
It is precisely thirteen days since the Central Bank of Nigeria listened with a bowed head to the Supreme Court’s direction on the validity of the old naira notes.
In its memo signed by its Ag. Director, Isa AbdulMumin two days ago, the commission directed that the N200, N500, and N1000 banknotes remain legal tender alongside redesigned banknotes till December 31st, 2023.”
Recall that on the third of march, 2023, the supreme court initially ruled that old banknotes remain legal tender all through the year 2023. The aim is to relieve millions of Nigeria who undergo chaotic situations daily in accessing cash.
Justice Emmanuel Agim who read the ruling said “The directive given by the President is invalid.”
Supreme Court operates as the apex Court on matters involving both Federal and State Laws. The Supreme Court has original jurisdiction in any dispute between the Federation and a state or between states and also has appellate jurisdiction to hear and determine appeals from the Court of Appeal.
In ordinary terms, It is supposed to be SUPREME. It should be superior to all others in authority, power, or status. Notwithstanding, it may have been de-marketed by the same people it should be superior over.
Buhari is More Supreme, But CBN is Next to him.
The “Supreme Court” had on the 8th of February, 2023 said it is restraining the federal government from implementing the February 10th deadline.
Three states of Kaduna, Kogi, and Zamfara led by the All Progressives Congress (APC) governors had run to the apex court calling it to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1000 notes will cease to be legal tender.
Unfortunately, the court’s declaration fell on the dead ear and the CBN went ahead to effectuate the deadline amidst the scarcity of the redesigned banknotes.
Five days later, the president’s speech cold-shouldered the supreme court and adopted CBN’s position. Although he directed that the old N200 naira banknote should be accepted as legal tender until April 10th, 2023 alongside the redesigned banknotes.
The president’s position was rather strange to democracy and Nigerians were further afraid that we might be practicing autocracy unknowingly.
To crown it, Nigerians like Nneka Agu, a food seller at Life-camp, Jabi Abuja are asking which of the releases they should stand on.
Supreme Court or CBN?
“However it is, I know I Will Never Collect Old Currencies until Buhari comes out to speak”.
I will “rather close my shop or bear the low turn-out of customers until things become normal.”
Okpambe Silvester, 32, a taxi driver from Karmo, Abuja laments how dubiously Nigerians have taken the cash crunch. “If you dare accept that transfers be made to your bank, they will camouflage you with a fake alert, and boom, that’s the end.”
“So where do we go from here”? He asked rhetorically.
Yes, Supreme Court has ordered that the old banknotes should circulate and be made legal tender until December, 31st 2023. CBN later bowed to this pressure and told Nigerians to continue with the use of the old banknotes.
But, market women, transport companies, shops, and markets, all people are waiting for Supreme President Buhari to SPEAK.
He is the Supreme.
