*Barrister Monday Ubani, human rights lawyer argues that President Muhammadu Buhari’s intervention should have been to allow the Supreme Court of Nigeria to resolve the matter and short-circuit the legal process

Alexander Davis | ConsumerConnect

Following President Muhammadu Buhari’s nationwide broadcast on updates on the Central Bank of Nigeria (CBN) implication of the Naira policy, Thursday, February 16, 2023, Mr. Monday Onyekachi Ubani, human rights lawyer, said President Muhammadu Buhari had actually overruled the Supreme Court with his declaration that old N500 and N1,000 notes are no longer legal tender in Nigeria.

Ubani, Chairman of the Nigerian Bar Association’s Section on Public Interest and Development Law (SPIDEL), spoke Thursday, on a Channels TV programme monitored in Lagos.

Implications of President’s directive on old N500, N1000 notes 

The legal professional said the President’s intervention should have been to allow the apex court to resolve the matter and not cut short the process.

President Buhari, in a national broadcast Thursday morning, had directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation for use along with new N200, N500 and N1,000 banknotes for 60 days.

The President also, declared that old N500 and N1,000 banknotes are no longer legal tender in the country.

Ubani, however, stated: “The President has actually overruled the Supreme Court decision.

“That is what I understand by what the President said this morning.”

He contended that the President should have waited and obeyed the Supreme Court order.

The lawyer further said: “There was an interim order which says you should hold on until the Supreme Court look at the grievances made by the states 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 going ahead to look at the issues on its merit and that was why there was an adjournment yesterday (Wednesday).

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

Ubani further noted: “When you say you will only allow old N200 to be in circulation, meaning that (old) N1000 and N500 notes are no longer legal tender.

“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.”

He as well observed the President had not set a proper precedent because the international community is watching and won’t have confidence in the country’s democracy and judicial process.

Ubani stated: “I am not too happy with what has happened this morning in terms of the President overruling the Supreme Court.

“I am not happy. We are not telling the world that we are practicing democracy.

“It is not a proper precedent. The world is watching us, the international community is watching us.”

He added: “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.”

Supreme Court’s extant interim ruling on old Naira notes as legal tender

It is recalled that Justice Okoro said there was no need for a renewal of the court’s order on the validity of the use of old N200, N500 and N1000 notes.

The apex appellate court Wednesday, February 15 said its February 8 order barring the Federal Government and its agencies from enforcing the February 10 deadline for the use of old N200, N500 and N1,000 notes still stands.

The clarification reportedly became necessary, following a complaint by the Counsel to Kaduna, Kogi and Zamfara states, Mr. Abdulhakeem Mustapha, that the Federal Government and its agencies had failed to comply with the order and have allegedly directed the rejection of the old notes.

The CBN had October 26, 2022, had states it would redesign the N200, N500, and N1,000 notes in order to take control of the currency in circulation.

Mustapha also said the plaintiff filed a notice of non-compliance with the order of the court made February 8 and demanded that the court takes action against the respondent to protect the dignity of the court.

The seven-man panel led by Justice John Okoro asked Mustapha to file a proper application to put forward his complaints and to enable the respondent to respond appropriately.

Justice Okoro said there was no need for a renewal of the court’s order.

He noted that, since the order made by the court on February 8 was made pending the determination of the motion for injunctions filed by the plaintiff, the order still subsists since the motion was not yet heard.

The Supreme Court Wednesday further fixed February 22, 2023, for the hearing of the suit filed by Kaduna, Kogi and Zamfara states challenging the propriety of the Naira swap policy of the Federal Government.

The court chose the date after joining the Attorneys General of Katsina Lagos, Cross River, Ondo, Ogun, Ekiti and Sokoto states as co-plaintiffs in the earlier suit filed by Kaduna, Kogi and Zamfara states.

The court also joined the Attorneys General of Edo and Bayelsa states as co-respondents.

Both states took sides with the Federal Government.

The court ordered parties to file all necessary documents before the hearing set for next Wednesday.