Naira Redesign: CSOs kick against Supreme Court ruling


By Aminu Kutama

The Coalition of Civil Society Organisations (CSOs) of Nigeria has said that the Supreme Court ruling of Wednesday stopping the February 10 deadline for the validity of three old naira notes is designed to enable corrupt politicians to share old N200, N500 and N1,000 notes during the February 25 and March 11 general elections.

“This order is only designed to help politicians in the sharing of old money during elections,” said the group’s National Coordinator, Obed Okwukwe at a press conference in Abuja on Wednesday.

Okwukwe spoke hours after the Supreme Court restrained the Federal Government and the Central Bank of Nigeria (CBN) from implementing the February 10 Deadline for the old 200, 500 and 1000 naira notes to stop being legal tenders.

The Coalition rejected the ruling and urged the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola to vacate the order.

“We, the CSOs are rejecting it; it is a plot to open the bank vaults to enable buyers and hoarders of illicit wealth to have cash to buy votes.

“We ask the Chief Justice of Nigeria (CJN) to hurriedly vacate the ex parte order in the overall interest of the Nigerian election. We have suffered,” his statement said.

The CSOs said the matter is not a dispute between the state and federal governments that warrant Supreme Court intervention.

“Today, the naira redesign policy is the policy of the Central Bank of Nigeria and it was done by the CBN Governor with the backing of President Muhammadu Buhari. It is a policy of the Federal Government.

“So, what is the issue for the determination before the Supreme Court of Nigeria? Is there any conflict between the state and the federal governments that the Supreme Court has the guts to issue an ex parte order?” Okwukwe asked.

He urged the apex court and the CJN to vacate the order in the interest of the Nigerian people and not allow itself to be used by desperate politicians.

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