The Arewa Consultative Forum (ACF) on Sunday urged President Muhammadu Buhari to respect the Supreme Court’s ruling on the redesign of naira notes.
The apex court had on March 3 extended the validity of the old N200, N500, and N1000 notes till December 31.
However, the silence of the Federal Government and Central Bank of Nigeria (CBN) 10 days after the ruling has provoked anger in the land.
In a statement issued by its Secretary-General, Murtala Aliyu, the forum warned said that the scarcity of naira notes could lead to a breakdown of law and order in the country.
The ACF also reminded President Muhammadu Buhari of the damage the policy whose immediate goals are not entirely clear to a majority of Nigerians would cause to his reputation as a democrat and a stickler for the rule of law.
The statement read: “Some 10 days ago, the Supreme Court of Nigeria held that President Muhammadu Buhari breached the constitution in the way he issued a directive to the CBN for the redesign of the naira without consulting with the National Council of States and the Federal Executive Council.
“It went further to rule that the unconstitutional use of powers by the president on the naira redesign has breached the fundamental rights of Nigerian citizens in various ways.
“The state governors have persistently argued that the policy which permitted the CBN to place an embargo on the circulation of old N500 and N1,000 naira notes, while not providing their replacement in sufficient amounts, had triggered severe cash shortage and chaos in the economy.
“It has led to runaway inflation in food and other commodities. Huge crowds and long queues form around bank offices and ATM points across the country as people struggle to get new cash which has remained extremely scarce. It has triggered riots and other forms of civil unrest.
“Whatever the CBN or anyone else say about the benefits of the policy, which evidently are many, is of little comfort as soon as the highest court in the country has deemed that it is, or at least the manner of its implementation, breaches the law.
“10 days is long enough time for the government to find its way towards complying with a court order which import is central to the achievement of peace, order and good governance in the country.
“President Buhari is under oath to defend the constitution of Nigeria. As his long-term supporters, it will be remiss of us if we fail to warn that the much-touted benefits of the Naira redesign can never justify the damage to his credentials as a democrat and a stickler for the rule of law.”
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Shell’s inaccurate data raises questions around efforts to control methane emissions in Nigeria
Much worse for the environment than carbon dioxide, despite global efforts to control methane, emissions continue soaring. With over a...
FEATURE…Missing Rig Workers: Tragedy, Injustice and the Depthwize cabal
The serene landscape of Ovhor in Delta State bore witness to a disaster that shook the nation’s conscience. The capsize...
FEATURE… In the shadow of kidnappers: The story of Nigeria’s albatross
For decades, Nigeria has been grappling with a problem that has threatened the safety and stability of its people: kidnapping....
FEATURE: The falling standard of education in Nigeria today: Whose Fault?
Over the years, education has proven to be the fulcrum facilitating national development in any state. Through education, knowledge is...
INVESTIGATION: Failed multi-million naira constituency water projects litter Sokoto communities
Many rural communities in Sokoto State are at the risk of an outbreak of diarrhea and other diseases due to...