ADELANI ADEPEGBA writes on the reluctance of the Muhammadu Buhari regime to obey the Supreme Court order on the legal tender status of the old naira notes and how it finally succumbed to public pressure
Ten days after the Supreme Court extended the legal tender status of the old N200, N500, and N1,000 notes until December 31, the Central Bank of Nigeria reluctantly announced its compliance with the judgment in a late Monday night statement.
It added that the decision was taken during a bankers’ committee meeting in compliance with ‘the established tradition of obedience to court orders and sustenance of the rule of law.’ The directive signalled the end of the untold hardship faced by Nigerians for the past three months.
But the arrogant defiance of the order of the apex court, and insensitivity to the hardship occasioned by the thoughtless and poorly implemented naira redesign policy marked a terrible denouement to the eight years of the Muhammadu…
