Ethnic Youth Leaders Hail Court Order Barring Buhari, CBN From Shifting Withdrawal Limit, Naira Swap Deadlines

Ethnic Youth Groups comprising Arewa, Ohanaeze, and Oduduwa Youths have hailed the High Court of the Federal Capital Territory (FCT) for restraining the President of the Federal Republic of Nigeria, Muhammadu Buhari, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and 27 commercial banks operating in the country, from suspending, stopping, extending or interfering with the currency redesign terminal date of February 10, 2023 or issue any directive contrary to the same deadline.

The socio-cultural groups in a joint statement
signed by Ohanaeze Youth Group’s Secretary General, Nwada Amaka, said looters of Nigeria’s commonwealth have lost the battle.

The groups said the Monday’s court order was best for the country and would afford the stakeholders opportunity to now concentrate on how to ameliorate the hardship occasioned by the Naira swap policy.

The groups also noted that the order ties the hands of bank CEOs and their staff who have been alleged to be hoarding the new banknotes and trading with them thereby causing untold hardship to ordinary Nigerians.

The statement reads, “For selfish reasons, vested interests are opposing the good intentioned policy by CBN despite the full backing of President Muhammadu Buhari. Some strategic policies of the CBN under the leadership of Godwin Emefiele have been grossly misunderstood and unduly criticized in the apex bank’s efforts to heal and restore confidence in the Naira and the economy. The CBN’s policy aimed at checking malpractices was misinterpreted by vested interests as a move targeted against the poor.

“These selfish individuals want Emefiele removed because they don’t want the deadline to Naira swap to stop before election so that they will be able to bring out the money they stole and stashed and use it to muzzle the people to vote who they want. 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 policy or at least extend same. Governors alleged to be behind the moves to stop this policy include the Governors of Kaduna, Kogi, Zamfara, Ondo, Rivers, Imo, Benue and Kano.

“Looters of the commonwealth of the people have lost out while Ohanaeze Youths insist that vote buyers and election riggers have been relegated just as Oduduwa Youth hold the view that kickbacks will be very difficult now, corruption greatly limited and chance for money laundering made slimmer.”