Supreme Court’s ruling on naira swap saved Nigeria from anarchy — Tinubu

The All Progressives Congress (APC) presidential candidate, Bola Tinubu, on Wednesday hailed the Supreme Court over its ruling on the naira redesign.

A seven-member panel of the apex court had earlier on Wednesday restrained the Federal Government and the Central Bank of Nigeria (CBN) from going ahead with the February 10 deadline for the withdrawal of the old naira notes from circulation was discussed by the two leaders.

The court delivered the ruling in an application filed by Governors Nasir El-Rufai (Kaduna), Yahaya Bello (Kogi), and Bello Matawalle (Zamfara).

The court also adjourned the case to February 15, 2023.

Tinubu, who reacted to the judgement in a statement issued by the Director of Media and Publicity in the APC Presidential Campaign Council, Bayo Omanuga, said the ruling saved Nigeria from anarchy.

The former Lagos State governor charged the Nigerian government to revise the policy in the interest of Nigerians.

He also commended the three APC governors who took the matter to the apex court, saying he was in the presidential race to make life better for Nigerians.

READ ALSO: NAIRA SWAP: Supreme Court cancels CBN’s Feb 10 deadline

The statement read: “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 pains since this policy was announced.

“The federal government and relevant stakeholders can now sit down and work out a 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 CBN-like Fire Brigade approach.”

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