From Fred Itua, Abuja

Ethnic Youth Groups, Arewa, Ohanaeze and Oduduwa youths, have hailed the high Court of the Federal Capital Territory restraining the President of the Federal Republic of Nigeria, Muhammadu Buhari, the Governor of the Central Bank of Nigeria, Godwin Emefiele and twenty-seven listed commercial banks from suspending, stopping, extending or interfering with the currency redesign terminal date of February 10th or issue any directive contrary to the February 10 date.

The socio-cultural groups in a joint statement signed by Ohanaeze Youth group Secretary General, Nwada Amaka said looters of commonwealth have lost.

The groups said the order was best for the country and would afford the stakeholders opportunity to now concentrate on how to ameliorate the hardship occasioned by the policy.

The groups also said the order ties the hands of bank CEO’s and their staff who have been alleged to be hoarding the new bank notes and trading with them thereby causing untold hardship to ordinary citizens.

Related News

The statement reads: “For selfish reasons, vested interests are opposing the good intentioned policy by CBN despite the full backing of the President Muhammadu Buhari. Some strategic policies of the CBN under the leadership of Godwin Emefiele have been grossly misunderstood and unduly criticized in the apex bank’s efforts to heal and restore confidence in the naira and the economy. The CBN’s policy aimed at checking malpractices was misinterpreted by vested interests as a move targeted against the poor.

“These selfish individuals want Emefiele removed because they don’t want the deadline to naira swap to stop before election so that they will be able to bring out the money they stole and stashed and use it to muzzle the people to vote who they want.

“This order of the Court has rendered futile all behind the scene efforts especially by Governors of some states to force the hand of the President to reverse the policy or at least extend same. Governors alleged to be behind the moves to stop this policy include the Governors of Kaduna, Kogi, Zamfara, Ondo, Rivers, Imo, Benue and Kano.

“looters of the common wealth of the people have lost out while Ohanaeze Youths insist that vote buyers and election riggers have been relegated just as Oduduwa Youth hold the view that kickbacks will be very difficult now, corruption greatly limited and chance for money laundering made slimmer.”