Naira policy: FG, CBN should respect Supreme Court ruling, masses suffering – Oluwo

The Oluwo of Iwo, Oba Abdulrosheed Adewale Akanbi has described the silence of the presidency and the Central Bank of Nigeria (CBN) in the face of the Supreme Court judgment on the recirculation of the old Naira notes as a grievous affront.

Oba Akanbi, who directed his appeal to President Muhammad Buhari to influence the CBN to respect the Supreme Court judgment, also added that the silence could turn the judiciary into a paper weight arm of government.

The traditional ruler made this known through a statement by Alli Ibraheem, his Chief Press Secretary on Monday.

Lamenting that Nigerians have suffered much in the face of naira scarcity, Oluwo urged the government to be sensitive to people’s plight.

He feared continuous silence of the federal government and CBN will not only heighten the starvation inflicted on Nigerians but will also dampen the country’s economy.

The statement noted that, “There is need by the federal government to respect the sanctity of the judiciary by respecting the supreme court judgment on the new naira note recirculation.

“Nigerians are suffering. I appeal to President Muhammad Buhari for a review of the new naira regime to restore the hope in the judiciary.

“It is pathetic seeing us in this naira mess where you have your money in your account but don’t have access to cash to buy common bottle water. It is worse on the side of the masses, artisans and petty traders without account. Nigerians can no longer endure this hardship. The Supreme Court has spoken. Please, the federal government and CBN should please listen.”

In the face of the continued hardship experienced by Nigerians with regards to the Naira redesign policy, the Supreme Court after two adjournments had on March 3, 2023 ruled that the old N200, N500 and N1,000 should be spent together with the new notes until December, 2023.

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