Old Naira: No Future President, CBN Gov Can Upturn Supreme Court Order – Gov El-Rufai

Governor Nasir El-Rufai

Kaduna State Governor, Nasir El Rufai has stated that no future President of CBN Governor can overturn the decision of the Supreme Court on the old naira notes.

El-Rufai stated this while speaking with news men after the judgement of the apex court on the old naira note on Friday.

He said, “The policy of currency confiscation where you deposit money in the bank and the bank chooses not to give you is illegal and shall end forthwith, so Nigerians can go to the bank and collect whatever they have deposited and get on with their lives.

“It’s not a rebellion, it’s a reform to make Nigeria better. And with this judgement, no future president or Governor of the Central Bank can come and announce a policy that ambushes the lives and livelihood of Nigerian people anymore,” he said.

Recall that the Supreme Court, on Friday, nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.

The apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders until December 31.

It held that the old Naira notes should be used alongside the redesigned currencies.

It faulted President Muhammadu Buhari for introducing the demonization policy, without due consultation with the Council of States, the Federal Executive Council, the Civil Society and other relevant stakeholders.

In the lead judgement that was delivered by Justice Emmanuel Agim, the apex court accused President Buhari of disobeying its interim order that halted the full implementation of the new monetary policy.