Activist and Executive Director of Nigerian Workforce Strategy and Enlightenment Centre (NIWOSEC), Dr. David Kayode Ehindero, has chastised the ruling by the Supreme Court on the old Naira Notes Redesign policy, arguing that it’s targeted at satisfying only the rich.
Speaking to Quest Times Exclusively, he said: “The Supreme court judgement is envisaged and looks more of an arrangement for the powers that be.
“The old Naira notes have left Nigerian streets, the remainder could be in their vaults. The Central Bank of Nigeria (CBN) has provided various openings for the exchange of the monies and the masses have complied, but, the Governors and other political office holders that have them in excess are the ones complaining.”
According to him, the reasons for the hardship is not the new Naira notes but accessibility and bank policy of limitation of amount to be withdrawn per day.
He stressed: “It is unfortunate that our courts dance more to the beats of politicians, that is why any time they catch cold, the court sneezes.
“Nigerians have sacrificed for the policy, and now with the supreme court judgement, our sacrifices are futile.”
Dr. Ehindero argues that the policy has its gains, like the reduction in rate of kidnapping and robbery in Nigeria.
“We need a total overhaul in our system, a Governors threat or will should not override the collective good of all.”
Earlier, the Quest Times had reported that the Supreme Court has just ordered that old N200, N500 and N1,000 notes remain in circulation till December 31, 2023.
The apex court has also nullified the Federal Government’s Naira redesign policy, declaring it as an affront to the 1999 Constitution.
The lead judgment was read by Justice Emmanuel Agim.
The court also held that the preliminary objections by the defendants (the Attorney General of the Federation, Bayelsa and Edo states) are dismissed as the court has the jurisdiction to entertain the suit.