APC, Tinubu Raises Alarm As Court Blocks Buhari, CBN From Extending February 10 Deadline
APC, Tinubu Raises Alarm As Court Blocks Buhari, CBN From Extending Naira Deadline
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 extending 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 a ‘calculated’ attempt to block him from winning the 2023 elections.
A High Court of the Federal Capital Territory (FCT), on Monday, restrained Buhari, CBN, the Governor of CBN and 27 commercial banks from suspending, stopping, extending or interfering with the currency swap terminal date of February 10 or issue any directive contrary to the said deadline.
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). The Court presided over by Justice Enenche also granted the order directing the CEOs of the 27 commercial banks and their 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 supply of such notes by the CBN.
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 swift reaction, the Spokesperson of the Campaign Council, Festus Keyamo wrote;
“For the records: whilst not commenting on any matter, the FCT High Court has no jurisdiction over Federal Agencies in respect of the performance of their constitutional or statutory functions and it cannot issue any injunctive order to prevent the performance of a statutory duty.”