Naira Redesign Policy: ‘Resign Immediately’ – APC Tells Malami, Emefiele

• The CBN announced the redesign of N200, N500, and N1,000 notes in October 2022.

• The apex bank set a deadline for the validity of the old naira notes which triggered cash scarcity.

• The hardship that followed the cash scarcity forced some states to sue the federal government and ask the Supreme Court to weigh in on the matter.

Eko Hot Blog reports that the All Progressives Congress (APC) in the northwestern part of the country has asked the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to resign from their offices.

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The party made the demand following a verdict of the Supreme Court on Friday which held that the old naira notes are legal tender till December 31, 2023.

Recall that CBN unveiled the new N200, N500, and N1,000 notes on December 23, 2022, and fixed February 10 as the deadline for the use of the old ones.

The apex bank went on to enforce the deadline in violation of a temporary injunction by the Supreme Court that the old notes were still legal tender.

The CBN’s refusal to obey the court order was justified by the attorney-general who claimed that the apex court lacked the jurisdiction to hear the case instituted by some states against the federal government.

The naira redesign policy triggered a cash crunch that has affected the livelihood of Nigerians.

In a statement on Friday, Vice-chairman of the APC in the north-west, Salihu Lukman, claimed that President Muhammadu Buhari was misled into “illegality and abuse of executive power.”

He stated that anyone who “flagrantly” violates the rule of law must not be tolerated.

The APC chieftain commended Nigerians for supporting the party in the presidential and national assembly elections despite the “attempt to sensationally politicize” the naira redesign policy to the benefit of opposition parties.

“Therefore, if indeed, the cashless policy of the Federal Government was supposedly designed to conform with extant legal provisions of the Nigerian Federation, now that it turned out in the direct opposite, both the CBN Governor, Mr. Emefiele and the attorney-general of the federation, Mr. Malami should accept the limitations of both their knowledge of the law and commitment to democracy by resigning from their respective offices forthwith,” Lukman said.

“Rule of law is fundamental to democracy and individuals who flagrantly violate the laws or promote acts that breach the constitution of the federal republic of Nigeria must not be tolerated.

“We call on Nigerians to take note of the fact that the crusade against the federal government’s cashless policy was led by APC, not minding the attempt to sensationally politicize it to the benefit of opposition political parties and their candidates in this election season.

“It is gratifying that Nigerians resisted the antics of subversive politicians who wanted to use such crude methods, including inflicting untold hardship and pains on Nigerians to provoke citizens into voting against the APC during the February 25 presidential and national assembly elections.

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“We commend and salute Nigerians for their faith in our party, APC, and determination to support our party and our candidates during the 2023 elections.”

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