Nigerians have reacted to the Supreme Court’s decision to allow old N200, N500, and N1,000 notes to remain in circulation until December 31, 2023.
WITHIN NIGERIA previously reported that the Supreme Court also declared the Federal Government’s naira redesign policy unconstitutional, calling it an affront to the 1999 Constitution.
Justice Emmanuel Agim, who read the lead judgment on Friday, ruled that the defendants’ preliminary objections (the Attorney General of the Federation, the states of Bayelsa and Edo) are overruled because the court has jurisdiction to hear the case.
The court held that the dispute between the federal government and the states must involve law or facts, citing Section 23(2)1 of the constitution.
The Supreme Court also ruled that President Muhammadu Buhari admitted in his broadcast that the policy is flawed and fraught with difficulties.
According to the court, the policy has led to some people engaging in barter trade in this modern age in order to survive. The court also stated that the President’s defiance of the February 8 order is evidence of dictatorship.
On social media, netizens praised the Supreme Court for nullifying the naira policy and listening to Nigerians’ cries, while others chastised the apex for the decision.
See some of the reactions below;
@Northerner0 wrote: “Do they have power for that? Well, even if they didn’t pass the judgment today, we are confident that the president-elect (Bola Ahmed Tinubu) will reverse the judgement and let it continue as legal tender.”
@kingsleylead wrote: “What can be so wicked, the Buhari government stopped Nigerians from accessing their legitimate funds all in the name of winning an election.”
@YenyCrystal wrote: “No need for the end date…it should just be in circulation till the old Naira fades off, while the new Niara should be printed more…simple.”
@trueAFICIONADO wrote: “Supreme court has said their own, waiting for the CBN to say their own because supreme court is not the bank that will collect it from us.”
@VictoryOwai wrote: “The wahala be say if Supreme Court order is rejected now, them fit also reject court order when Obi is declared winner.”
@phemidawhiz wrote: “How much was that amount spent on printing new naira notes again? I want to determine the level of cashout.”
@OmoKiikan wrote: “Listen to the Supreme court at your own risk. Na wetin Emefiele talk we go follow.”
@olorunwababs wrote: “Nigeria is a theatre of confusion; will CBN honour Supreme court’s ruling? Time will tell.”
@VoteDefenderNG wrote: “Apparently, Supreme Court waited to see who will win the election before ruling on this case. They needed to play safe to save their job. Let’s all get ready to hold the Supreme Court accountable on Obi’s suit.”