[OPINION BY ADEBAYO ABUBAKAR] Disobedience to supreme court order: Presidency beats a tactical retreat | TheCable
Nigerian has taken a turn for the worse. No cash at hand to meet basic daily needs and cash at the bank is as good as being impecunious. The apex bank, under Emefiele, hoodwinked Nigerians into depositing the old banknotes in their possession with the deposit money banks , not later than January 31, 2023, with the false hope that the new notes would be made available such that Nigerians can access their funds any time they so wish.
Dear readers, I won’t bore you with the purported reasons for the crass implementation of the policy because they are as annoying as the consequences on both micro and macroeconomics. Every right-thinking person is yet to wrap his head around the policy at this material time, motive, and the way it is being implemented, in a manner devoid of empathy for the poor masses.
The most worrisome part of the whole thing is that the Supreme Court came to the rescue of the hapless masses on March 3, 2023, by ruling in a landmark case instituted by a consortium of state governors , that the old notes should continue to co-circulate with the new ones until December 31 this year. That landmark judgment was seen by the suffering citizens as heaven-sent. But the Muhammadu Buhari-led federal government has this unparalleled notoriety for disobeying court orders.
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