APC stands with its governors over naira redesign, says Adamu

Abuja—Abdullahi Adamu, national chairman of the All Progressives Congress (APC), says the ruling party stands with the position of its governors on the naira redesign, TheCable reports.

Ten states — mostly of the APC — had asked the supreme court to declare the directive of President Muhammadu Buhari on the naira swap policy as unconstitutional.

On Thursday, Buhari said he directed the Central Bank of Nigeria (CBN) to recirculate only the old N200 notes.

This is in spite of the ruling of the apex court that the old N200, N500, and N1000 notes are still legal tender.

The motion in the suit marked SC/CV/162/2023 was filed by the attorney-generals of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states.

Speaking after a meeting, on Sunday, in Abuja with Bola Tinubu, presidential candidate of the party, and APC governors, Adamu said Abubakar Malami, attorney-general of the federation (AGF), and Godwin Emefiele, CBN governor, should obey the temporal injunction of the apex court.

The APC national chairman asked the president to resolve issues surrounding the naira swap policy that have caused hardship on citizens.

“We urge the attorney-general of the federation and the governor of the Central Bank of Nigeria (CBN) to respect the supreme court order of interim injunction which is still subsisting,” Adamu said.

“The meeting is urging his excellency, Mr President, to intervene in resolving the issues that are causing these difficulties for the people.”

The apex court will hear the substantive issues in the suit on Wednesday.

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