The Supreme Court issued orders in its ruling on the naira redesign strategy on March 3, 2023, and the Nigerian Bar Association (NBA) has requested that President Muhammadu Buhari promptly direct compliance with those rules.
NBA President Yakubu Maikyau released a statement outlining the organization’s viewpoint (SAN).
The group applauded the Supreme Court for its verdict, which recognized the harm the naira redesign strategy had caused to the populace.
It made the case that the Central Bank of Nigeria (CBN) implemented the policy with little consideration for the needs and sentiments of Nigerians, causing them unnecessary suffering and discomfort.
I applaud the Supreme Court’s decision in this case, according to Maikyau, because it not only addressed the
The Court’s obligation to uphold the Rule of Law and the Court’s integrity is in addition to its obligation to the People.
“By this decision, the Supreme Court has demonstrated that it is the Supreme Court of the Nigerian people.
“The Federal Government has been given instructions by the Supreme Court for the good of the people, and there is no other course of action but to follow them.
“The President is required by the Constitution to follow and carry out the Supreme Court’s ruling.
The fact remains that we must still look to the judiciary as the only and final resort, to protect our rights as a people and ensure probity in public life. “Nigerians may not be too enamored with our judiciary, and this may have arisen from unsubstantiated and spurious allegations of judicial misconduct.
“The Supreme Court has rightly instructed the Administration and has spoken for the people of our country; the court’s decisions must be followed.
“We cannot accept or tolerate any appearance of despotism or dictatorship under whatever pretense.
“Our form of democratic administration has become the norm; as such, it requires not just universal respect but also zealous protection.
The President cannot afford to ignore the Supreme Court’s rulings that were made to serve the interests of the people who voted it to power since this is the biggest test or challenge to our constitutional democracy.
“Therefore, I urge the President to promptly order compliance with the provisions of the orders made by the Supreme Court in its judgment delivered on March 3, 2023,” in the name of all Nigerians.
The NBA President stated: “When the hardship and challenges faced by Nigerians as a result of this policy bite harder, we watched some feeble attempts at alleviating the situation but as it is with every endeavor, we witnessed some failures.”
A policy that is not properly grounded in the legal framework on which it is intended to operate,
The outcome won’t likely be advantageous.
“The CBN virtually completely ignored the visible hardships of the people as it went about implementing the plan,”
could be observed all around the nation started to raise concerns about the real purpose of the cash redesign program.
“If correctly carried out, the introduction of a Naira redesign policy does not had to result in the deaths of Nigerians or any loss of property.
That was our experience, terribly enough; Nigerians perished,
homes were lost and ruined, and many families are going hungry because they can’t afford food.
due to the perceived heavy handedness of the program, to use their hard-earned money that they had put in the banks.
Rural economies were suppressed. Economic activity has decreased, and many farmers who practice dry-season farming have been unable to nurture their crops.
In the majority of North-western states, just one out of every ten hectares of rice fields have been developed on their farmlands.
“Food security is in danger because rural farmers’ ability to carry out farming activities has been hampered by the financial crisis.
Simply said, it doesn’t seem like the policy is being implemented with a human face.
