POLITICS
APC responds as Court Stops Buhari, CBN from Old Currency Deadline Extension
APC responds as Court Stops Buhari, CBN from Old Currency Deadline Extension
The All Progressives Congress Presidential Campaign Council has reacted to a court order barring President Muhammadu Buhari and the Central Bank of Nigeria, CBN, from elongating its currency swap deadline.
It can be recalled that the Presidential Candidate of the APC, Bola Ahmed Tinubu, had lamented that the Currency swap was an ‘estimated’ try to barricade him from winning the 2023 elections.
On Monday, a High Court of the Federal Capital Territory (FCT) restrained Buhari, CBN, the Governor of CBN and 27 commercial banks from thwarting the currency swap terminal date of February 10 or issuing any directive contrary to the communicated deadline.
APC responds as Court Stops Buhari, CBN from Old Currency Deadline Extension
The Motion was filed by five political parties, namely Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM) and National Rescue Movement (NRM).
EFCC To Prosecute Defaulting Banks
The Court presided over by Justice Enenche also granted the order mandating the CEOs of the 27 commercial banks and they alter egos to show cause why they should not be arrested and prosecuted for the economic and financial sabotage of the country by their illegal hoarding, withholding, not paying or disbursing the new N200, N500 and N1000 banknotes despite the supply of such notes by the CBN.
APC responds as Court Stops Buhari, CBN from Old Currency Deadline Extension
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 Naira swap policy or at least extend its deadline.
In a snappy reaction, the Spokesperson of the Campaign Council, Festus Keyamo,,,, wrote;
“For the records: whilst not remarking on any matter, the FCT High Court has no jurisdiction over Federal Agencies in respect of their constitutional or statutory functions, and incentive issue any injunctive order to prevent the performance of a statutory duty.”
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