The Rivers State Governor, Nyesom Wike, on Thursday condemned the ban of old N500 and N1,000 notes by President Muhammadu Buhari.
Wike emphasized that it was improper and expressed grieve at Buhari’s statement.
The Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court held that the Federal Government, the CBN, must not continue with the deadline pending the determination of a notice in respect of the issue on February 22.
Buhari has directed the CBN to release old N200 notes into circulation to co-exist with new N200 banknotes for 60 days.
However, Wike stated that the President’s pronouncement was improper, despite the Supreme Court’s decision.
In a media chat, the governor said: “The highest court of the land has made a pronouncement. The Supreme Court has said not to do anything that will affect the use of the old naira note.
“I feel that the President’s declaration is not the proper thing and I am not happy.
“This also tells us how we do not respect or obey the rule of law. At this level, the advisers to the President would have said, ‘This issue is subject to litigation and any step you take will one way or the other affect the Supreme Court’s (stance)’.”