Buhari’s broadcast on cash swap recipe for anarchy- Adegbuyi

Former PostMaster General of the Federation, Asiwaju Bisi Adegbuyi has described President Muhammadu Buhari‘s broadcast on cash swap crisis as ‘a recipe for anarchy’.

The senior lawyer described the President’s decision to somehow vary the order of the apex court as contempt of Supreme Court.

Adegbuyi insisted that given instructions that run contrary to the apex court’s order, the President cannot claim to have regards for the court.

While the Supreme court ordered that all the old notes should continue to be legal tender, the President in his broadcast declared only the N200 note should be recirculated by the apex bank.

Admitting that the matter is already before the court, Buhari said:”I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender."

The former PostMaster General wondered what the President was trying to do in the face of clear cut pronouncement by the Supreme Court on the matter.

He agreed with the school of thought that says Buhari is running foul of the law with his latest decision on the naira swap crisis.

On Thursday, the Supreme Court reiterated its order that the Federal Government, acting through the Central Bank of Nigeria (CBN) or any other agent, should not enforce the February 10 deadline for the use of old naira notes, saying its February 8 order subsists.

In his reactions to the developments, Adegbuyi said: “What’s happening underscores our position that Nigeria urgently requires a reset; a new beginning if you like. I align myself with the people who believe Mr President is in contempt of the Supreme Court.

“And that’s a recipe for anarchy stemming from a total disregard for the pronouncement of the highest court in the land. The aforementioned are just symptoms of a Country in dire need of total and complete reforms of its political and economic processes. The political reforms being the big elephant in the room.”