Governor Nyesom Wike of Rivers State has hailed the decision of the Supreme Court to stop the Central Bank of Nigeria (CBN) from implementing the old naira notes deadline.
Drillogist earlier reported that a seven-man panel of the apex Court led by Justice John Okoro, in a unanimous ruling, restrained the Federal Government, Central Bank of Nigeria and their agents and commercial banks from implementing the February 10 deadline for the now-old 200, 500 and 1000 naira notes to stop being a legal tender.
The apex court also stopped the Federal Government, CBN and commercial banks from continuing with the deadline pending the determination of a notice in respect of the issue on February 15.
Reacting to the court judgment on Wednesday, Wike commended the apex court for saving democracy by stopping the CBN from banning the use of the old naira notes.
The Rivers governor said some elements were bent on derailing the ongoing democratic process, saying that the intervention of the Supreme Court is timely and appropriate.
Wike stated this on Wednesday at the Peoples Democratic Party (PDP) governorship campaign rally in County State School, Emilaghanin Abua/Odual Local Government Area of the state.
Rivers To join Suit Against Naira Swap Deadline
Wike also disclosed that the state will join the suit filed at the Supreme Court to challenge deadline for the naira swap policy, stressing that the policy is anti-people following the hardship it had inflicted on the economy.
He said: “I want to, on behalf of the Rivers State Government, commend the Nigerian Supreme Court for what they have done today (Wednesday) to save the masses of this country and to save democracy.
“Today, the Supreme Court has stopped the Central Bank of Nigeria (CBN) from embarking on stopping the old Nigerian Naira notes from circulating.”
“And let me commend my brother states like Kogi state, like Kaduna, like Zamfara state who took it upon themselves to go and challenge the federal government at the Supreme Court.
“I also want to say that the Rivers State Government will join them in that suit to challenge what the CBN is doing. We will not support anything that will go against the masses, anything that makes the masses suffer.”
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