Naira Swap Policy: Supreme Court Order Can’t Be Reversed By Future Presidents, CBN Govs – El-Rufai

Governor Nasir El-Rufai of Kaduna State has said the final ruling of the Supreme Court on the naira swap policy cannot be upturned by future Presidents or Governors of Central Bank of Nigeria (CBN).

Naija News reports that the governor, who is one of the plaintiffs, made this known to journalists after the apex court ruling on Friday.

Recall that the Supreme Court on Friday invalidated the naira redesign of the CBN, and orderd that the old Naira notes should be used alongside the redesigned currencies.

A seven-member apex court panel held that the old N200, N500, and N1000 notes remain legal tender until December 31, 2023.

According to the Kaduna governor, Nigerians can go to the bank and collect whatever they have deposited and continue with their daily lives.

He said the suit against the Federal Government is not a rebellion, stressing that the action was to make Nigeria better for its citizens.

He said, “The policy of currency confiscation where you deposit money in the bank and the bank chooses not to give you is illegal and shall end forthwith, so Nigerians can go to the bank and collect whatever they have deposited and get on with their lives.

“It’s not a rebellion, it’s a reform to make Nigeria better. And with this judgement, no future president or Governor of the Central Bank can come and announce a policy that ambushes the lives and livelihood of Nigerian people anymore.”