On Tuesday, the Olubadan of Ibadanland, Oba Sen. Lekan Balogun, praised the Federal Government for adhering to the Supreme Court’s decision on the redesign of the naira. The monarch stated that the decision was in the best interests of the poor masses.
President Muhammadu Buhari distanced himself from CBN Governor Godwin Emefiele’s reluctance to enforce the Supreme Court’s decision on Monday, stating that he had not spoken and questioning why his instructions needed to be awaited before the judgment of the highest court in the land was implemented. Meanwhile, the CBN released a statement on Monday through its Acting Director of Corporate Communications, Isa Abdulmumin, declaring that old N200, N500, and N1000 notes would be legal tender until December 31, as directed by the Supreme Court.
In response to the development, the monarch issued a statement through his Personal Assistant (Media), Oladele Ogunsola, which was made available to journalists in Ibadan, stating that the CBN’s compliance would go a long way toward alleviating the growing tension in the country caused by the cash crunch. The monarch recalled the hardship that the populace faced during the period and thanked the people for their patience and understanding.
The monarch commended the judiciary for saving the situation, saying that it remains the hope of the common man. He also urged both leaders and the led to exercise caution and restraint in reacting to government policies, emphasizing the importance of thinking through policies before they are implemented.
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