Obey Supreme Court’s new naira ruling, NBA begs FG
The Nigerian Bar Association has condemned the Federal Government’s position on the redesign of the naira.
In a statement signed by its president, Yakubu Maikyau, the association demands compliance with the March 3 ruling of the Supreme Court in case no. SC/CV/162/2023.
The NBA disclosed that in response to the naira redesign policy, it engaged in extensive consultations with key stakeholders in Nigeria in order to assess the policy’s potential impact on the economy and the Nigerian people.
The group of attorneys stated that the CBN’s cash swap programme, which went into effect on January 23, 2023, has not addressed the concerns of Nigerians after January 31, 2023.
The letter stated, “It is sad and disheartening that the Federal Government and its agency, the CBN, will remain so adamant about the plight of Nigerians as a direct result of the implementation of the Naira Redesign Policy, despite several interventions for review thereof in order to alleviate the sufferings of Nigerians, resulting in the damning remarks and orders by the Supreme Court as quoted above.”
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“Regrettably, not even the Supreme Court’s unambiguous findings regarding the unfair and deceptive nature of the policy could convince the federal government to reverse course. The Supreme Court went so far as to declare the President’s actions a threat to the Rule of Law and the survival of our democracy, in addition to their contempt for the court.
“I commend the apex court’s decision in this case because it not only reflected the Court’s responsibility to the people, but also its duty to protect the Rule of Law and the Court’s own integrity. This ruling demonstrates that the Supreme Court is indeed the highest court of the Nigerian people.”
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