BusinessNewsNigeriaLawyers say the Supreme Court ruling on old notes best for Nigeria

With regard to the cashless policy of the Central Bank of Nigeria (CBN), two Lagos based lawyers and an economist have said that obeying the Supreme Court ruling is the best way to go for the nation.

Emeka Iheonu, a Lagos based lawyer and Alaowei Ebikonbowei Cleric, a human rights lawyer as well as a former World Bank/International Monetary Fund (World Bank/IMF) expert have hailed the court’s ruling, and stressed that as the highest court in the land, the Supreme Court judgment on the cashless policy must be obeyed by all parties in the interest of the nation.

Iheonu, a member of the Lagos Bar and the African Bar Association (ABA) said, “With the usual Nigerian factor in mind, I believe that the lapses experienced at the recent February 25th election will not be improved upon by the Independent National Electoral Commission (INEC).

“Rather, they will be doubled this time around by incumbent governors and State House of Assembly members who will do anything with the connivance of fraudulent INEC officials not to lose their seats at the March 11th election.

He added, “Those whose parties lost to other parties at the last election, will double efforts to ensure that their parties do not suffer the same fate in the forthcoming election.”

In his contribution, Cleric Ebikonbowei, Chairman, Board of Trustees (BoT), Centre for Human Rights and Anti-Corruption Crusade (CHURAC), in a statement, noted that the Supreme Court’s decision on any matter is final.

“President Buhari has no other option than to obey the judgment. This is a victory for the suffering Nigerians. I give kudos to the activist Justices that delivered the judgment.

“The rest now lies in the executive arm to obey and enforce the judgment. Nigeria is practising constitutional democracy. Therefore, Buhari should obey the constitution of the country,” he said.

On his part, Prof. John Ebhomien, a public affairs analyst, and a former consultant with the United Nations Office of Project Services, pointed out that the Supreme Court judgment on the cashless policy and the continuous use of the old N200 N500 and N1, 000 until December 31, 2023 is a good decision which must be applauded by everyone.

Prof. Ebhomien, the former World Bank/International Monetary Fund (IMF) economist and financial management expert, stressed that the judgment has gone a long way to demonstrate that nobody is above the law.

“This landmark judgment, in all ramifications, is an indictment on the CBN and President Muhammadu Buhari’s government,” Ebhomien said.

“The Supreme Court must go a step further to ensure that all adjudications concerning the elections are adjudicated in a transparent manner and with a high sense of responsibility, probity and accountability.

“The Supreme Court and other appellate courts must put in place appropriate mechanisms for an acceptable adjudication on elections and other matters pertaining to it now and years ahead.

“The Supreme Court and other appellate courts must be seen as the last hope of the common man,” he said.

By Uzoamaka Ikezue (Staff Reporter)

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