Tinubu Reacts as Supreme Court Gives Verdict on CBN Naira Swap Policy

• The APC presidential candidate, Bola Tinubu, has commended the Supreme Court ruling that stopped the FG from banning the use of old naira notes
• Tinubu also hailed the governors of the 36 states, particularly the APC governors, for standing by the people to keep them from suffering
• The governments of Kaduna, Kogi and Zamfara states dragged the FG and the CBN before the apex court over the naira redesign policy

Bola Tinubu, the presidential candidate of the All Progressives Congress (APC), has commended the 36 state governors in Nigerian over their stand on the naira redesign and cashless policy of the Central Bank of Nigeria.

Tinubu posited that the governors stood by the people against a policy that has subjected poor Nigerians to pain and hardship.

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Bayo Onanuga, the media director of the APC presidential campaign council, in a statement sent to Legit.ng on Wednesday, February 8, disclosed the position of the presidential hopeful.

According to the statement, the APC governors who stood against the policy and filed a suit against the CBN and the federal government have acted on behalf of helpless Nigerians.

It also added that Tinubu said the naira redesign policy is good but was poorly implemented, thereby subjecting the poor masses to pain.

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The governments of Zamfara, Kaduna and Kogi states have sought an interim injunction from the Supreme Court against the CBN and federal government to allow old N200, N500 and N1000 to remain a legal tender until further notice.

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The statement reads in part:

“Our country was dangerously careering toward anarchy and political and economic shutdown. But with the Supreme Court's interim ruling, our country has been pulled back from the precipice. We thank our Supreme Court Justices for ruling wisely on the side of the people who have been subjected to undue agony and pains since this policy was announced."

Naira Scarcity: Civil society groups reject supreme court ruling, cite constitutional default

Legit.ng earlier reported that the coalition of civil society organisations in Nigerians have rejected the supreme court ruling restraining the CBN from stopping Nigerians from spending the old naira notes.

The groups, at a press conference on Wednesday, argued that the apex court only rules when there is a constitutional dispute between the federal government and the states.

Kaduna, Zamfara, and Kogi states have dragged the FG before the court to obtain an ex-parte order of temporary injunction of the deadline.

Source: Legit.ng