A senior advocate of Nigeria Ebun-Olu Adegboruwa has declared the broadcast and pronouncement of President Muhammadu Buhari on the naira swap policy on Thursday despite Supreme Court ruling has been referred to as contempt of court.
Recall that President Muhammadu Buhari had on Thursday 16 February in a nationwide broadcast ordere the central bank of Nigeria, to reintroduce t the old N200 banknote into circulation till April 10 2023 while the old N500 and N1,000 notes ceases to be a legal tender in Nigeria.
Speaking after the broadcast, Mr Ebun-Olu Adegboruwa,a lawyer-turned-activist contends that the president is powerless to overturn a ruling by Nigeria’s Supreme Court.
Adegoruwa continued by criticizing the president in a statement released early on Thursday, claiming that he had violated the separation of powers concept.
He further added that in a democracy, there is a separation of powers.
Recall that 10 state governors, including those of Kaduna, Kogi, Zamfara, Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo, and Sokoto, are suing the federal government in the Supreme Court over the Central Bank of Nigeria’s decision to redesign the naira. The new N200, N500, and N1,000 banknotes were introduced, and the old notes were ordered to stop being legal tender on February 10, 2023.
The case was postponed by the Supreme Court on Wednesday to February 22, 2023 for hearing.
According to the pronouncement of the President,the old N200 note still remains a legal money until April 10.