The Nigerian Bar Association (NBA) has asked President Muhammadu Buhari to immediately direct compliance with the terms of the orders made by the Supreme Court in its judgement delivered on 3 March 2023 in respect of the naira redesign policy.
This is contained in a statement by NBA President, Yakubu Maikyau (SAN).
The association commended the Supreme Court for its decision which took into consideration the negative impact of the naira redesign policy in the people.
It argued that the needless pain and discomfort to which Nigerians were subjected to resulted from the manner the Central Bank of Nigeria (CBN) went about implementing the policy with scant regard for citizens’ interests and feelings.
Maikyau said: “I commend the judgement of the apex court in this matter as it not only spoke to the
responsibility of the Court to the people but also its bounden duty to protect the Rule of Law and the integrity of the court.
“The Supreme Court has, by this judgment, proven to be the Supreme Court of the people of Nigeria.
“The Supreme Court has issued directives to the Federal Government for the benefit of the people and there is no option other than to comply.
“The President is under constitutional obligation to comply and enforce the decision of the Supreme Court.
“Nigerians may not be too enchanted with our Judiciary, and this may have arisen from unsubstantiated and spurious allegations of judicial misconduct, the fact however remains that we still must look to the Judiciary as the only and final resort, to protect our rights as a people and secure probity in public life.
“The Supreme Court has spoken for the people of this nation and has appropriately issued orders to the Executive and the orders of the court must be complied with.
“We cannot under any guise or pretence accept or tolerate any appearance of autocracy or dictatorship.
“Our system of democratic governance has come to stay, it must not only be respected by all and sundry but must also be jealously guarded and protected.
“This is the greatest test or challenge to our constitutional democracy and the Executive cannot afford to disregard the orders of the Supreme Court made for the benefit of the people that elected it to power.
“I therefore on behalf of all Nigerians, call on the President to immediately direct compliance with the terms of the orders made by the Supreme Court in its judgement delivered on 3 March 2023.”
The NBA President noted that “as the hardship and difficulties encountered by Nigerians on this policy bite harder, we witnessed some feeble attempts at ameliorating the situation but as it is with every policy which fails to properly reckon with the law upon which it is meant to operate, the outcome will hardly be beneficial.
“The manner in which the CBN proceeded with the implementation almost without regard for the apparent sufferings of the people as could be seen across the country began to raise questions as to the true motive of the cash redesign policy.
“Nigerians did not have to die and neither should there be any loss of properties on account of the implementation of a Naira redesign policy if properly undertaken.
“Unfortunately, and sadly so, that was our experience; Nigerians died, properties were destroyed and lost; there is hunger in many homes as people are unable to use their hard-earned funds which they deposited in the banks because of the apparent high handedness of the policy.
“The rural economy was stifled. Economic activities have dwindled, many farmers engaged in dry season farming have not been able to cultivate their farmlands – only about one out of every ten hectares of rice fields have been cultivated in most parts of North-western states.
“Food security has come under threat as the cash crunch has affected ability of rural farmers to engage in farming activities.
“Simply put, the implementation of the policy appears not to have a human face.”
