4th March, 2023
Governor Nyesom Wike said the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has no choice but to follow the Supreme Court’s judgement.
He made this statement on Friday shortly after the Supreme Court extended the validity of old N200, N500, and N1,000 notes until December 31, 2023.
Speaking, Wike said “I thank God the Supreme Court today has told them the old money remains valid till the end of December.
“So, if you still have the old money, use it. The highest court of the land has said so.
“Too bad for the governor of the Central Bank. He has no choice. There is no other directive that can override the judgement of the Supreme Court,” Wike added.
Earlier, Sixteen states, led by Kaduna, Kogi, and Zamfara, petitioned the Supreme Court to declare the policy null and void because it is causing hardship to innocent Nigerians.
Delivering judgement on Friday, the Supreme Court declared the Federal Government’s naira redesign policy unconstitutional, calling it an affront to the 1999 Constitution.
According to the court, the policy has forced some people to engage in barter trade in order to survive in the modern era.
Furthermore, it nullified President Muhammadu Buhari’s declaration and the CBN’s naira redesign deadline, stating that disobeying the February 8 order is a sign of dictatorship.