Confusion as Supreme Court rules on old naira notes
There is still much confusion as Supreme Court rules on the controversial issue of the old naira notes. Some governors of the All Progressives Congress have dragged the Federal Government and the Central Bank of Nigeria to get an interlocutory injunction to restrain the apex bank.
Last week, the governors went to have a meeting with the president to urge him to recheck the policy on the new naira notes. But the president asked for one week for him to resolve the problems. Another week for Nigerians to form queues at the galleries, to suffer.
There have been protests and resultant violence in a number of areas in the country. Nigerians have gone to deposit the old naira notes, yet the new notes are not available for them for transactions.
The CBN later extended the deadline from 31 January to 10 February. That has even complicated the issue for the citizens of the country as they continue to struggle for the new naira notes.
Confusion now is that what exactly will Nigerians do? The Supreme Court has passed a judgement. The court has granted the injunction which restrain the Federal Government and the Central Bank of Nigeria.
However, the old naira notes are not even in circulation anymore. It is more worrisome that Nigerians are totally stranded. They have neither the old nor the new. In fact they have money only in their respective accounts.
Top Nigerians including Bola Tinubu have hailed the motion ex parte. Even Mr. Nyesom Wike has expressed his delight and confidence in the top court. But how does it affect the common people in the country?
There is still no assurance that the crisis would go down after the conclusion of the court. Suffice to say that there is confusion as Supreme Court rules on the new naira notes.
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