• Comply with Supreme Court order immediately, Diri, NBA tell govt, Buhari
From Adanna Nnamani, Abuja and Lukman Olabiyi
The Nigerian Labour Congress (NLC) has given the Federal Government a seven-day ultimatum to address Naira scarcity or risk a nationwide industrial action.
NLC President, Joe Ajaero, stated this at an emergency Central Working Committee meeting in Abuja, yesterday.
He decried that Nigerians were suffering as a result of the Central Bank of Nigeria’s (CBN) cashless policy and threatened to ask workers to withdraw their services if the problem is not resolved in the next seven days.
On March 3, the Supreme Court ordered that the old N500, N1,000 notes should continue to be used as legal tender until December 31. In spite of the order, the Federal Government and the CBN are yet to issue official announcements to the public indicating compliance.
The NLC leader said: “First, it’s apparently difficult for us to assess the little money we have in banks and Nigerians are groaning. This is the same money they were asked to pay into the banks.
“We are also aware that it’s difficult to get petroleum products and where you see it, a litre costs N350 in some parts of the country.
“We will no longer be quiet about this issue of perennial fuel scarcity and arbitrary increase in prices.
“On the issue of cash crunch, the NLC is giving the FG, the agencies under it including the CBN and other banking institutions seven working days to address it. If they fail to do it at the expiration of the seven working days, the Congress is directing all workers in the country to stay at home because it has become very difficult to access even N1, especially for traders who do not have bank accounts.
“We’ve also discovered that even when banks give out old currencies, it can’t be spent. Even when you take them back to the same banks, they’re not accepting them. We’ve been frustrated to a level that we can no longer keep quiet,” he explained.
Meanwhile, the Nigerian Bar Association (NBA) and Governor Douye Diri of Bayalsa State have urged the Federal Government to direct immediate compliance with the apex court order that extended the validity of old naira notes.
Yakubu Maikyau, president of the umbrella lawyers group in a statement expressed concerns over the hardship the currency redesign policy has imposed on Nigerians, saying the government’s refusal to adhere to the court order showed a failure of the constitution and democracy.
“The Supreme Court has issued directives to the Federal Government for the benefit of the people and there is no option other than to comply. The president is under constitutional obligation to comply and enforce the decision of the supreme court,” the NBA read.
“Section 287 (1) of the constitution of the Federal Republic of Nigeria 1999 provides that the decisions of the Supreme Court shall be enforced in any part of the federation by all authorities and persons, and by court with subordinate jurisdiction to that of the supreme court.
“Nigerians may not be too enchanted with our judiciary, and this may have arisen from unsubstantiated and spurious allegations of judicial misconduct, the fact however remains that we still must look to the judiciary as the only and final resort, to protect our rights as a people and secure probity in public life. The supreme court has spoken for the people of this nation and has appropriately issued orders to the executive and the orders of the court must be complied with.
“We cannot under any guise or pretence accept or tolerate any appearance of autocracy or dictatorship. Our system of democratic governance has come to stay, it must not only be respected by all and sundry but must also be jealously guarded and protected. This is the greatest test or challenge to our constitutional democracy and the executive cannot afford to disregard the orders of the supreme court made for the benefit of the people that elected it to power.
“I, therefore, on behalf of all Nigerians, call on the president to immediately direct compliance with the terms of the orders made by the supreme court in its judgement delivered on 3 of March 2023.
“The Nigerian Bar Association remains committed to the promotion, entrenchment and respect for the Rule of Law, integrity of the court and the independence of the judiciary. The NBA shall stand up against any action that seeks to undermine the Rule of Law, the integrity of the court and the independence of the judiciary.”
•Diri reacts
At an interactive meeting with leadership of various unions and associations of transporters, traders and petroleum marketers in the state in Yenagoa, Governor Diri said Nigerians expected the Federal Government and the CBN to speedily implement and enforce the court judgment.
He said the lack of direction by government and the apex bank had hampered the implementation of the Naira redesign policy and the ruling of the highest court.
“Clearly, when the Supreme Court has ruled on a matter, it is final. And we expect that the federal government and the CBN will implement the ruling of the Supreme Court. If this had to do with our own constitutional authority as a state government, we will do it. Constitutionally, states have no power over currency and monetary matters and cannot therefore issue directives on them except they want to play to the gallery,’’ he said.
Describing the Naira redesign and currency swap policy as laudable, Diri, however, stressed that the policy was ill-timed and its implementation had caused untold hardship on the lives and livelihoods of the people.
“I know this situation has inflicted severe hardship on many of us. My thoughts and prayers are with those who have been directly or indirectly affected by the adverse consequences of the implementation of the naira redesign and currency swap policy of the federal government,” he said.
The governor said the meeting was convened to interact with major stakeholders from various business sectors with a view to seeking ways to ease the challenges brought about by the Naira swap policy.
Diri promised that he would meet with managers of commercial banks in the state as well as relevant officials at the federal level to suggest ways to reduce sufferings of the people.
The leadership of the various unions and associations of petroleum marketers, transporters and traders at the meeting included the state Chairman of the Independent Petroleum Marketers Association of Nigeria, Mr Peter Erefamote.
Also in attendance were Tricycle Owners Association Chairman, Mr Sani Moniru, that of the National Road Transport Workers Union of Nigeria, Chief Erebo Oyinkuro, former secretary, Swali Market Traders Association, Mrs Fortune Samuel, and Mrs Christian Gwuembe of the Periwinkle Traders Association.
•Old notes remains legal tender – Sanwo-Olu
Lagos State Government said there was no reason to reject the old notes going by the Supreme Court judgement.
A statement by his Commissioner for Information and Strategy, Gbenga Omotoso, held that the apex court declared that “no reasonable notice was given as required by Section 20(3) of the CBN Act,” noting that the public only became aware of the policy through press remarks, which cannot qualify as a notice to the public.
“The court maintained that the policy has impeded the functions of state governments, pointing out that the directive that stops the use of the old notes is illegal, unconstitutional, null and void.
“All agencies of the Lagos State Government are advised not to reject payments made with the old currency by the public.”
•Ondo meets CBN, deposit banks representatives
To stem the hardship faced by residents, Ondo State Government has held a meeting with representatives of the CBN and commercial banks in the state.
His deputy, Mr. Lucky Aiyedatiwa, at the meeting in Akure, said cash crunch had affected the economic lives of people in Ondo State. He said it was an offence to reject the old N500 and N1000 notes in the state after the supreme court had pronounced it as a legal tender till December 31.
“We appeal to the people of Ondo State and various stakeholders on the need to comply with the ruling of the highest court of the land, the supreme court, as regards acceptance of the old Naira notes. Members of the public need to comply, the banks, the market women, everybody need to comply, so that living can be comfortable for everybody. We have decided to have a discussion with the bankers on the cause of the problem of not accepting the old notes from the people. We need to hear from you, we can’t be pleading with the public and the banks are not complying,” he said.
CBN Head of Banking Services, Kennedy Nwannunu, said commercial banks were still receiving and issuing out the old Naira notes.
“Deposit money banks are still receiving and paying out the old naira note in line with the Supreme Court judgment. CBN has not given further directives to stop receiving or to stop paying. CBN has stopped even receiving the old Naira notes from deposit banks,” he said.
Nwannunu, however, decried the case of people taking money from commercial banks and not returning it to the deposit banks, stressing that this was not how the banking system works.
The representatives of commercial banks, who took turns to speak at the event, said that the CBN should make the cash more available to them to dispense to the public.
•NUP asks FG to pay pensioners in cash
The Nigeria Union of Pensioners (NUP) has asked the Federal Government start paying pensioners in cash so as to lessen the impact of the country’s present Naira shortage on elderly persons.
The Union also demanded that senior citizens be accorded priority and preferential treatment at their banks, Automated Teller Machines (ATMs) and Point of Sales (POS) paying points to avoid the endless long queues experienced at such places daily. NUP made the appeal in a statement co-signed by its national president and secretary, Godwin Abumisi and Elder Actor Zal respectively.
The statement read in part: “As a result of the naira scarcity, many families, including that of the pensioners have been thrown into a state of hunger and hopelessness as they cannot access cash in their various banks to meet up with their basic necessities and responsibilities.
“It is in line with the above that the Nigeria Union of Pensioners (NUP) which is the voice of the Nigeria Pensioners/Senior Citizens wishes to issue this press statement towards drawing the attention of the Federal Government to the deplorable state of the endangered Nigeria pensioners who are worse hit by this obnoxious, faceless and dehumanizing policy that has reduced the senior citizens to beggars in their fatherland.
“It is on the strength of this that the NUP as a pressure group and the true representative of the Nigeria pensioners wishes to strongly appeal that the Federal Government could do better to lessen this burden on the Senior Citizens by taking some temporary measures of paying the pensions of the pensioners in cash as well as according the pensioners priority and preferential treatment at their banks, ATM and POS paying points to avoid the endless long queues experienced at banks daily.
“This can be achieved by identifying and singling out the pensioners/senior citizens at every pay point and have them attended to immediately to avoid the incident of collapses of older persons at queue points as being experienced currently. Or alternatively, the Federal Government could urgently work out any palliative measures for these fragile, endangered species in order to ameliorate their living conditions. Suffice it to say the pensioners/Senior Citizens are the responsibility of the government and their welfare should therefore matter to her. A stitch in time saves nine.”