Femi Falana, a rights activist and Senior Advocate of Nigeria, has criticized the Central Bank of Nigeria for allegedly violating the Supreme Court’s interim injunction suspending the implementation of the February 10 deadline for the use of the old banknotes.
After the CBN governor, Godwin Emefiele, met with the President, Major General Muhammadu Buhari (retd.), the deadline for the old notes’ legal tender status to expire was moved from January 31 to February 10.
Nigerians have been groaning under the agony of the deadline because they can’t get the new notes, but Point of Sales vendors are selling them the old ones.
However, on February 8, the Supreme Court issued an interim injunction preventing the CBN and the Federal Government from enforcing the deadline of February 10.
However, in an interview on Tuesday, Falana stated that the government was not prepared to comply with the directive.
Falana stated, “In a country where the rule of law operates, it is expected that all and sundry – everyone – will comply with the order” once the Supreme Court has made a decision or issued an order.
He went on to say that the CBN’s claim that it would not comply with the Supreme Court’s order because it was not a party to the case could only be true in a “banana republic,” according to him.
The central bank was informed in a statement that it would not comply with the order because it was not a party to the case. That was something I thought could only occur in a banana republic.
“I anticipated that the central bank would have issued a statement in response to the Supreme Court’s order: “All actions expire on February 15,” he declared.
The SAN went on to say that those who disobey court orders should be made an example of, stressing that no one should think they are above the law.
He went on to say, “For me, an example has to be set this time around, so that nobody will feel like he is above the law in our country.” The Central Bank of Nigeria (CBN) has insisted that the old N200, N500, and N1,000 notes’ status as legal tender must end on February 10.
