Your Message Gave No Hope Of Ending Nigerians’ Suffering – Falana Fires Buhari

A Senior Advocate of Nigeria (SAN), Femi Falana, has blasted President Muhammadu Buhari over the new directive to the Central Bank of Nigeria (CBN).

Naija News earlier reported that the President on Thursday directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500, and ₦1,000 banknotes for 60 days.

The President, however, said old N500 and ₦1,000 banknotes are no longer legal tender in the country.

In a statement he signed on Thursday, Falana said President Buhari’s address to Nigerians gave no hope to the common man, adding that the suffering of the Nigerian people is worsening by the day over the naira scarcity.

He stated that Buhari’s decision to allow only the N200 note in circulation and keep the old N500 and N1000 notes out of circulation is not enough to end the crisis.

The prominent lawyer asserted that there are not enough old 200 naira notes to replace all the old ₦1,000 and N500 notes, noting that the naira scarcity was created by the government.

Falana said it is only the government that can end the naira cruch, stating that unless firm action is taken, the crisisnwill get worse in the days to come.”

The Senior Advocate also said that the decision of the President to exclude old N500 and N1000 notes from the legal tender is of no legal effect as it constitutes a contravention of section 287(1) of the Constitution.

He urged the Federal Government to comply with the judgment of the Supreme Court which ordered that the old notes remain legal tender without any further delay.

The statement reads: “The suffering of the Nigerian people is getting worse by the day. President Buhari in his message to the nation gave no hope that this suffering will end anytime soon. We need action now to reverse the fuel price increases and to make money available again.

“Our suffering cannot continue – we cannot live like this. After 13 days (rather than seven) President Buhari eventually announced a decision this morning. But it is not enough to end the crisis. There are not enough old 200 naira notes to replace all the old ₦1,000 and N500 notes. In addition, the new deadline of 10th of April is too close.

”If the government was serious, the crisis could be ended in a few days. All the old currency notes could be made legal tender until the end of the year.

“In addition, all the old currency could be changed at the banks as well as at the CBN until the end of next year. This would give confidence back in the markets and the old currency would again be accepted.

“The problem is that the corrupt elite think that increased suffering and deaths of the common people is a price worth paying if they defeat their opponents.

“Hungry people can no longer buy food and so they are in more danger of dying from common diseases. People cannot afford to travel to hospital. If they get there they cannot afford tests. If they take the tests they cannot afford the medicine.

”This crisis was created by the government. It is only the government that can end the crisis. The government could end this crisis in a matter of days. The CBN could issue old currency notes to the banks to issue to the public in a matter of days. That is all that is needed to end the crisis.

“The untold crisis across the country, the misery, suffering and deaths are a result of a fight between different clans of the corrupt elite. The common people are suffering as a result of disputes over who will loot for the next four years or more.

“Unless firm action is taken, this crisis will get worse in the days to come. The suffering and anger is likely to make violence around the election worse.

“Then we still have to suffer the Buhari Government for at least another three months. Any alternative to this will only make the situation worse.“