New Naira: Buhari ought to follow the law, says Shinkafi
Alhaji Sani Abdullahi Shinkafi, a leader of the All Progressive Congress in Zamfara State, praised the Supreme Court’s decision over the redesign of the naira note and urged President Major General Muhammadu Buhari (retd.) to uphold the law.
Speaking to reporters in his Gusau home, Shinkafi demanded that Buhari follow the Supreme Court’s ruling and permit the simultaneous exit of both the new and old naira notes through December 31.
“Nobody in the country, regardless of how highly placed he may be, will disobey the order now that the Supreme Court has decided that both the old and new naira notes remain legal tender.
“I am urging President Muhammadu Buhari to obey the court’s ruling and immediately give the CBN the go-ahead to put the money into circulation.”
According to Shinkafi, many Nigerians have been negatively impacted by the new naira notes policy since they have been living in extreme poverty ever since the cashless policy was implemented.
Shinkafi asserts that CBN Governor Mr. Godwin Emeifele’s statement that “This is not the way advanced countries change their currencies” was bad advice to Buhari.
He listed instances when currencies were routinely altered without a deadline in the United States of America, the United Kingdom, and Saudi Arabia.
“Countries like the United States, the United Kingdom, Saudi Arabia, and other advanced countries have changed their currencies, but they don’t suddenly stop using old notes in commerce.”
What they often do is let the old notes circulate with the new ones until the old ones are finally returned to banks.
He praised the governors of the states of Zamfara, Kaduna, and Kogi for their enormous efforts in preventing the nation’s total collapse due to a cash shortage.
In the event that President Buhari, the AGF, or the CBN disregarded the Supreme Court’s directive, he recommended the governors to go back to court.
“The Governors have powers to apply for execution of form (48) contempt of court charge and form (49) committal to prison so that all players who choose to disobey the ruling of the Supreme Court can be put to prison outright,” said Shinkafi.
He asked Nigerians to follow the Supreme Court’s directive and use both the old and new Naira notes as lawful tender through December 31.