Sequel to President Muhammadu Buhari’s broadcast yesterday, during which he said the old N500 and N1000 notes cease to be legal tenders, our correspondents report that many Nigerians and groups have condemned his stance in contravention of the Supreme Court’s pronouncement
‘Buhari cannot repeal order of the Supreme Court’
Lagos State Attorney-General and Commissioner for Justice, Mr Moyosore Onigbanjo (SAN) has reacted to President Muhammadu Buhari’s rejection of the old notes, saying it is contrary to the Supreme Court’s stand.
Onigbanjo stated this when he appeared on TVC Business Show during which he said petrol stations, banks and others who reject the old notes would be prosecuted.
The Attorney-General decried the lingering naira scarcity in the land and the high charges by Point-of-Sales operators that have fostered untold hardship on Nigerians.
He noted that people who are hungry and have their means of livelihood eroded cannot care about any macroeconomic policy or its short or long-term gain.
He said: “There is a contract between a customer and a bank that says when you bring your money to us you can have it back on demand. Any bank that refuses to give the money on demand has violated the terms and conditions of that contract and can be sued. I will advise Lagosians who have experienced suffering and injury as a result of the situation to press for charges.”
He maintained that it is ridiculous that Nigerians are buying their own money.
“Even the producers of goods and services are losing money due to the scarcity of new notes to purchase their products easily,” he said.
On the recent Supreme Court ruling, the A-G noted that though President Muhammadu Buhari has enormous powers, he cannot repeal the order of the Supreme Court or any other court in the country.
President Buhari announced yesterday that the CBN would allow banks to circulate the old N200 notes until April 10.
This is contrary to the Supreme Court’s position that the old and new notes should co-exist until the substantive matter, which will be heard on February 22, is heard.
In the same manner, the Anambra State Governor, Prof. Chukwuma Soludo has called on President Buhari to consider the agony faced by the Nigerian people as a result of the new Naira redesign policy.
He also urged the president to obey the ruling of the apex court.
Soludo made the appeal yesterday during the funeral mass for the first Aviation Minister, Chief Mbazulike Amaechi held in his country home, Ukpor, Nnewi South Council Area.
“Since the Supreme Court has declared that the old and new naira notes should remain legal tender until judgment is rendered, the President should obey the ruling of the apex court,” he said.
Zulum, Obaseki, Bagudu introduce palliatives
In a bid to ameliorate the suffering of citizens of Borno State resulting from the new naira notes crisis, the Borno State Governor, Babagana Zulum has directed the release of drugs worth N300 million and other medical supplies to government hospitals for free distribution to patients most of whom were facing difficulties in making payments due to scarcity of new and old naira notes.
The Commissioner for Health and Human Services, Prof. Mohammed Arab made this known while unveiling the drugs in Maiduguri, the state capital.
Arab said the supplies included drugs for prevalent illnesses, maternal delivery kits and other medical essentials.
The commissioner directed medical directors and principal medical officers of public health care centres in Maiduguri Metropolitan Council and Jere Local Government Area to prepare procedural papers to receive their allocations for immediate deployment.
Arab said the drugs must be given free to patients that have no money or those that have problems accessing their funds to pay for their medical services.
“Officials will rely on patients to be honest because, some people may have money and still demand free drugs by pretending they have no money on them,” he said.
Arab thanked Zulum for coming to the aid of patients during a critical period, a move which he described as “humane.”
On behalf of others, the medical director of the State Specialist Hospital, Dr BabaShehu Mohammed, appreciated the government’s gesture.
In Edo State, Governor Godwin Obaseki, yesterday directed all Edo City Transport Service (ECTS) buses to provide free services to passengers, beginning yesterday. The gesture was aimed at cushioning the effect of the cash crunch experienced by the people.
This is contained in a statement by the Special Adviser on Media Projects to the Governor, Mr Crusoe Osagie which was made available to reporters in Benin-Citty, the state capital.
Osagie said: “The directive is applicable to all routes and is effective till Monday, February 20, after which further announcement would be made on the matter.
“The government urges the people to remain calm and be law-abiding as it is committed to ensuring that normalcy is restored.
In Kebbi State, the state government, yesterday, began the distribution of palliatives to residents through the local government councils across the state.
The distribution was carried out at the Kebbi State Emergency Management Agency (SEMA) store at Bulasa, a suburb of Birnin-Kebbi.
The Secretary to the Kebbi State Government (SSG), Alhaji Babale Umar-Yauri said the essence was to ameliorate the current difficulties being experienced by the residents.
The food item palliatives would be distributed to all the 21 area councils for onward delivery to people at the villages, wards and unit levels.
The foodstuff included 3,220 bags of 50kg maize, 2,800 bags of 10kg maize; 1,550 bags of 10kg rice, 50kg millet, bags of 25kg garri- 1,200, 1,600 bags of 5kg garri, 4,000 bags of 30kg guinea corn, 2,322 and bags of 10kg beans- 1,200.
The SSG said the items to be disbursed were relief materials provided by the state and the Federal Governments for intervention in the period of difficulty.
On the mode of distribution, Umar-Yauri said the items would be conveyed to the poor and most common people through council chairmen, adding that all stakeholders, including religious, traditional and community leaders would be involved to ensure transparency.
In Kwara State, businesses lose N30 million daily. This was made known by the Kwara State Coalition of Business and Professional Association (KWACOBPA) yesterday.
The group said its members are daily losing about N30 million to cashless and Naira redesign policies of the Federal Government.
KWACOBPA comprises over 21 professional and business associations.
Chairman of the group, Alhaji Olalekan Fatai Ayodimeji said businesses in Nigeria are endangered.
“The large and medium companies are in dire need of foreign exchange (forex) for their raw materials and machinery. Currently, micro and small enterprises are struggling to get the local currency for their business operations.
The reasons adduced by the CBN for the naira redesign are understandable but implementing the same alongside the cashless policy is worrisome,” he said.
‘Take responsibility for failed naira redesigned policy’
As the back-and-forth associated with the current naira redesign policy seems endless, the presidential candidate of the Peoples Democratic Party (PDP) Atiku Abubakar has blamed the raging currency swap crisis on what he described as the maladministration of the All Progressives Congress (APC)-led Federal Government.
Reacting to the crisis and confusion thrown up by the mismanaged currency redesign policy, Atiku advised the ruling party to take responsibility for its actions.
He knocked the APC administration for conceiving, giving birth to and foisting anti-people policies on Nigerians.
In a statement yesterday, Atiku flayed the currency redesign policy for subjecting Nigerians to extreme hardship.
Atiku said: “This crisis may be coming on the heels of the currency swap, but it is pertinent to remind us that it is a culmination of the frustrations of Nigerians arising from the maladministration of the ruling All Progressives Congress in the nearly eight years.
“The crisis that we are witnessing currently was conceived, given birth to and nurtured by the ruling APC.”
Atiku urged the ruling party to take responsibility for the policy and the challenges that have dogged its implementation.
Atiku pleaded with Nigerians not to vent their frustrations through violent actions.
Atiku is not alone in slating President Muhammadu Buhari and the APC-led government over the naira redesign policy.
Worried by the hardship which the policy and its implementation have brought on Nigerians, the Human Rights Writers Association of Nigeria, (HURIWA) yesterday said Buhari has demonstrated his usual penchant for flouting court orders with his placement of a blanket ban on old N500 and N1, 000 notes despite an order of the Supreme Court.
The group said the old N200, N500 and N1,000 bank notes should remain legal tender till a determination of the subsisting case on February 22.
In a statement by its National Coordinator, Comrade Emmanuel Onwubiko HURIWA said Buhari had, in a similar fashion, disobeyed an Appeal Court ruling granting unconditional bail to the leader of the Indigenous People of Biafra (IPOB) Nnamdi Kanu late last year.
The group said President Buhari is laying a bad precedent by disobeying court orders which is crucial for the sustenance of democracy and its values.
The group reminded Buhari that democracy is about the rule of law and not by fiat and decree as done by military heads of state of which the President was once one from 1983 to 1985.
The group cautioned that the President should not rule Nigeria like a country under military rule.
In the face of the crises which the new naira policy has generated, President Buhari made a nationwide broadcast in the morning yesterday. In his speech, he empathised and sympathised with Nigerians over the suffering that scarcity of the new and old notes has brought upon them.
While some gave kudos to Mr President for the speech, others gave him knocks.
For instance, residents of Jos, the Plateau State capital said the President’s speech over the naira swap crisis lacked substance, even as they described it as “a movement without motion.”
Sabiu Abubakar, one of the residents said: “I see the broadcast as needless because it failed to address the problems at hand. The major problem we are facing is the non-availability of cash. Our problem is not about N200 notes; it is about people walking into the bank to withdraw their money and moving out; or going to the nearby ATM and get their money.”
Another resident, Monday Fawul said: “All I expected Mr President to do was to issue orders to the CBN to make the cash available to Nigerians. You deceived people to take old money to the bank for a swap for new notes. People obliged but they can no longer see the new notes they were asked to swap. What sort of economic policy is that?”
Pius Chuwang said: “As far as I’m concerned, Mr President has not addressed the problem of Nigerians over this naira swap quagmire. All we are saying is, to let banks release the new notes and the naira swap process will be complete. The so-called broadcast was just a waste of time and resources.”
In one of the commercial banks in Jos, a member of staff who spoke in confidence said: “No one should expect cash flow until after the governorship election in March. All these issues of broadcast is just to buy time; it is of no effect at all.”
In Calabar, former Governor of Cross River State, and a chieftain of the All Progressives Congress (APC) Chief Clement Ebri said his reaction to the presidential broadcast was that of sadness over the position of the President.
His words: “The President’s panacea is not far-reaching enough. He needs to address the currency issue in a more drastic manner than the band-aid solution he has preferred.
“You cannot give panadol to a cancer patient and expect him to recover from the ailment.”
Also reacting to President Buhari’s broadcast, the Pan Niger Delta Forum (PANDEF) has called on the Federal Government to suspend the process on the use of old naira notes across the country.
It also described President Muhammadu Buhari’s broadcast which called for the re-circulation of only the N200 notes as “unthinkable,” “unfortunate,” and “perhaps preempting the Supreme Court.”
In a telephone chat with The Nation in Warri, PANDEF’s Publicity Secretary, Ken Robinson said though the Southern and Middle Belt Leaders had earlier praised the initiative since “it was targeted at mitigating illicit transactions,” the impact on the masses have made the whole process “ridiculous.”
Stating that PANDEF is worried by the development, Robinson noted that “the President’s broadcast further gives some kind of validation to speculations that some people are being targeted and the whole process is political. If that is true, it will look like pulling down one’s house to kill a rat.
Police nab 13 over banks’ attack in Delta
Police in Delta State have arrested 13 suspects in connection with the attacks on some commercial banks in the Udu Council Area of Delta State.
The State Police Public Relations Officer (PPRO), Bright Edafe, a Deputy Superintendent of Police (DSP) stated this yesterday.
According to him, the Commissioner of Police, Mr Ari Mohammed Ali, had ordered the transfer of the suspects to the State Criminal Investigation Department (SCID).
Edafe said: “We have arrested13 suspects. The CP has directed that the matter should be transferred to the State CID. Two banks and two vehicles were set ablaze.”
Recall that Union, Access and First Banks, all located along Udu Road, came under mob attacks following the rejection of the old naira notes by the banks and other business owners, including filling stations and transporters.
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has appealed to Nigerians to remain patient and understanding, rather than attacking banks, which would escalate the crisis.
ASSBIFI’s President, Mr Olusoji Oluwole made the appeal at a news conference yesterday in Lagos.
Oluwole said that such attacks had amounted to personal losses by innocent Nigerians and injuries sustained by members of the public, while members in the insurance sector were faced with claims of more than N2 billion.
He also expressed dismay over the lack of response or condemnation of those acts by bodies or individuals saddled with the responsibility of supervising or protecting the industry and its workers.
“Some communities were attacked recently. In those communities, there are probably four or five banks in operation. After the attack, that community is going to be without banking services. So, what is the point of going out to attack those people? It will be better for those banks not to be opened if they do not have cash.
Ekiti State Government has sympathised with residents on the challenges being faced on account of the lingering fuel shortage and scarcity of the new naira notes.
Governor Biodun Oyebanji appealed to all residents to remain calm and go about their daily activities peacefully as concerted efforts were being made to redress the situation.
This is contained in a statement by the Special Adviser on Media to the Governor, Mr Yinka Oyebode which was made available to reporters yesterday in Ado-Ekiti, the state capital.
The governor, according to the statement, specifically appealed to all traditional rulers, religious, political and community leaders and leaders of thought to help prevail over the citizens, especially the youth.
He said the call became necessary so that the youth would not allow themselves to be used to foment trouble on account of the current situation.
Oyebanji reassured the people that his administration was committed to the welfare and well-being of all citizens of the state and was exploring all avenues to make life more comfortable for them