The Speaker of the House of Representatives, Femi Gbajabiamila, has described President Muhammadu Buhari’s directive to the Central Bank of Nigeria (CBN) to reintroduce the old N200 note into circulation as a step in the right direction.
However, the Speaker said the President’s directive falls short of the Supreme Court order that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation.
In a statement made available to Channels Television on Thursday, Gbajabiamila said it is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law. According to him, it will be better for the government to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit.
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The Speaker urged Nigerians to bear this moment with equanimity, adding that “for the sake of our country, we must work together to resist actions that escalate tensions and endanger our democracy at this crucial moment of national awakening and rebirth.”
See the full statement below: