Buhari Rescinded Supreme Court Order With Reintroduction Of Old N200 

Afimag.com –

Human Rights Lawyer, Dr. Monday Ubani has said that President Muhammadu Buhari disobeyed the Supreme Court verdict with the re-injection of the old N200 notes into the Nigerian economy.

Recall that in his broadcast on February 16, 2023, President Buhari said the old N200 note remains a legal tender until April 10 while the old N500 and N1000 notes will no longer be accepted by Deposit Money Banks.

Ubani, while reacting to the development on Channels Television’s Sunrise Daily, condemned the President’s action, saying that it was a bad precedent, and that it underscores the level of respect by the current administration for rulings of law.

“There was an interim order which says there should be a stay of action until all grievances are looked at because unfortunately many other states are joining the suit, and the Supreme Court saw the wisdom in giving room for other parties to join so that there will proper parties before it before going ahead to look at the issues on its merit, that was why there was an adjournment yesterday.

“But unfortunately what the president has done this morning is ignore whatever is going on at the Supreme Court.

“When you say you will only allow old N200 to be in circulation, it means old N500 and N1000 are no longer legal tenders.

According to him, “My own understanding of what has taken place is that he has overruled the Supreme Court. He’s clearly not mindful of what is going on at the Supreme Court with what he has just done.

“I am not too happy with what has happened this morning in terms of the president overruling the Supreme Court. We are not telling the world that we are practicing democracy. It is not a proper precedent.

“If you cannot obey your court orders, how do you instill confidence in the international community to come into your country to make investments? In case there is any dispute, can there be a decision of the court that can be complied with within your country? We are not sending the right signal,” he said.