Naira Swap Deadline: Ethnic Youth Leaders Tackle Supreme Court Over Jurisdiction

Ethnic Youth Leaders in the country have called on President Muhammadu Buhari to issue an Executive Order for Currency Swap policy to terminate on February 10 as planned and prevent further extension of the deadline.

The Supreme Court on Wednesday had temporarily halted the move by the federal government to ban the use of the old Naira notes from February 10.

The socio-cultural groups in a joint statement signed by Ohanaeze Youth group Secretary General, Nwada Amaka, said the Supreme Court has no jurisdiction for the exparte order it granted.

Arewa Youths on its part while condemning the apex Court ruling, insisted that the Supreme Court must redeem itself by vacating the order so that Nigerians will not see it as the apex Court that is always against credible elections.

The groups urged the Central Bank of Nigeria (CBN) to file urgent preliminary objection on jurisdiction ground so that the apex Court can vacate the order.

The statement reads: “CBN should as a matter of fact join the suit and file urgent preliminary objection on jurisdiction ground so that the apex court can vacate this order while Nigerians who have not deposited their old notes should avoid had I known and go to do so immediately. The original jurisdiction of the Supreme Court is not activated by the status of the parties before the Court or the nomenclature of names but the subject matter in controversy. See AGF Vs AG, Imo State.

“The issue is that the masses don’t have old Naira notes again and there is none to be spent. How does this order help the people who are asking for new Naira to be made available? This order is designed only to help politicians with sharing of old money during elections.

“We call on President Muhammadu Buhari to exercise his constitutional powers to make an urgent Executive Order to set the terminal date for the new currency to remain 10th February 2023 which he has powers to do under the law as the exparte order made outside jurisdiction can’t stop the exercise of the executive powers of the President.”