The Speaker of the House of Representatives, Femi Gbajabiamila has called on the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele to honour the judgment of the Supreme Court.
The Informant247 earlier reported that the apex court ruled that the old N200, N500 and N1,000 notes should remain legal tender till December 31, 2023.
The apex court also condemned the naira redesign policy, and described it as an affront to the 1999 Constitution.
The apex court admitted that the cashless policy has made people adopt trade by barter in this new age in an attempt to survive.
The court described the disobedience of the president to the February 8 order of the court as a sign of dictatorship.
Gbajabiamila said: “This is necessary to reverse some of the damage done to our economy and prevent the continued suffering of the Nigerian people, the Speaker said while hailing the decision of the Supreme Court to invalidate the deadline for the currency policy introduced by the CBN.
The Speaker made this revelation in a statement released by his spokesperson, Mr. Lanre Lasisi, reaffirming that the judgement of the court was in line with the position of the Green Chamber.
“The decision of the Supreme Court suspending the currency swap policy introduced by CBN and extending the implementation deadline to Dec. 31,validates the position of the House in its entirety,”,he said.
The speaker praised the Governors of Kaduna, Kogi and Zamfara and their colleagues, for dragging the federal government and the CBN to the apex court.
“It showed their collective adherence to the rule of law and their determination to take bold actions that serve the best interests of the Nigerian people.
“While we anticipate action by CBN ,there is still a need to examine and understand how this policy intervention turned out in the way it did.”Gbajabiamila said.
He said the House of Reps would “exercise its authority to review the actions and inactions, the failures of law and procedure that set the conditions for this profound failure of public policy”.
The Governor of Kaduna State, Mallam Nasir El-Rufai has described the ruling of the Supreme Court on old naira notes as a win for the people of Nigeria.
The Governor of Kogi State, Yahaya Bello has described the latest judgment of the Supreme Court on the cashless policy and the old naira notes as a solid foundation for the incoming government of the president-elect, Senator Bola Tinubu.
The North West zone of the ruling All Progressives Congress (APC) has called on the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and the Attorney General of the Federation (AGF), Abubakar Malami to tender the resignation of their appointments for “misleading” President Muhammmadu Buhari on the cashless policy.