When the Supreme Court suspends the CBN’s Feb. 10 deadline, Nigerians react

The Supreme Court’s decision to temporarily halt the Federal Government’s plan to prohibit the use of the old naira notes beginning on February 10, 2023, has prompted responses from a variety of Nigerians.

The Daily Post reported on Wednesday that an exparte application brought by three northern states, Kaduna, Kogi, and Zamfara, had been stopped by a seven-member panel led by Justice John Okoro.

“The federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500, and 1,000 denominations of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for an interlocutory injunction,” the three states had specifically requested an order of interim injunction.

Mr. A. I. Mustapha, SAN, counsel for the applicants, moved the application on Wednesday and urged the Supreme Court to grant the application for the sake of justice and Nigeria’s well-being.

The government’s policy, according to Mustapha, has resulted in an “excruciating situation that is almost leading to anarchy in the land.”

Mustapha lamented that the few Nigerians who do have bank accounts could not even access their funds from the bank as a result of the policy, despite the fact that he made reference to the CBN’s statistics, which stated that over 60% of people do not have bank accounts.

“An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500, and 1,000 denominations of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction,” Justice Okoro said in a ruling regarding the motion. After carefully considering the

READ ALSO:  Emefiele's arraignment is postponed one more because the suspended CBN boss allegedly chooses a plea deal

However, he moved the hearing of the main suit to February 15, 2023.

However, Nigerians have responded to the development via Twitter. While others praised the Supreme Court, others criticized its decision.

XANDERTECH gathered the following comments from Twitter:

“A win for democracy!,” tweeted @aholagunju.

“This is the time Buhari should disobey a court order,” tweeted @MaziGomez. Not everything he has been doing.

“Yet again, the same Supreme Court,” said @KenUttih. To combat corruption in Nigeria, we require something beyond the norm. Regardless of the approach taken, citizens must play a major role in making it happen.

“This whole new Naira note drama is beginning to look like a comedy show,” tweeted @OpigoPeter.

@SkinnyBoi001: “People would still go through what they are going through now even if the deadline is extended to December this year.”

@Classic84073745: “Why are all of the governors of the APC taking this money issue very seriously?” They never take education and security issues this seriously.

@Danidon: “It is evident that President Buhari is not the most powerful APC member. Why are they so determined to stop this? Why are they unable to persuade CBN to increase the availability of the new notes?

“Nigerian politicians always have their own way,” says @Mr_temitope. It now appears as though the court has joined them.

“Nigeria politicians will always have their way,” says @Mr_temitope. The reality is sad.

@austinemarobe: “They can do it for fuel and all other problems we are having in the country if they can do it for old Naira notes.”

READ ALSO:  There are five things you should know about Folashodun Shonubi, who is currently serving as acting Governor

“Pain relief news, CBN should do the necessary by making a new Naira note available for us,” tweeted @630bbba13a784b7. There is a lot going on for people. Only you can tell.

“This compromised Supreme Court,” by @estoyjsybruce.

“I’m really ashamed of the Nigerian Judiciary,” tweeted @ChidiNdumnego. truly embarrassed Recently, it keeps making moral judgments.”

“I welcome this order from the supreme court,” tweeted @eekabadcrane.

 

Leave a Reply

Your email address will not be published. Required fields are marked *