Naira Scarcity: Arewa Forum Cautions Buhari over Supreme Court Ruling

Chuks Okocha in Abuja

Amid the lingering naira scarcity and the attendant hardship on the citizens, the Arewa Consultative Forum (ACF) has faulted President Muhammadu Buhari for allegedly disobeying the Supreme Court judgment ordering the recirculation of the old naira notes till December 31, 2023.

The northern socio-political group described the president’s action as a damage to his credentials as a democrat and a stickler for the rule of law.
In a statement issued by its Secretary General, Murtala Aliyu, yesterday, the ACF lamented that the naira redesign policy had led to runaway inflation in food and other commodities.

The group said, “Whatever the Central Bank of Nigeria or anyone else say about the benefits of the policy, which evidently are many, is of little comfort as soon as the highest court in the country has deemed that it is, or, at least the manner of its implementation, breaches the law.”
The ACF also warned that the crisis had the possibility to morphed into a serious social disorder leading to the possible breakdown of law and order throughout Nigeria.

The group said 10 days was long enough time for the government to find its way towards complying with a court order whose import it stated was central to the achievement of peace, order and good governance in the country.
The ACF noted that huge crowds and long queues form around bank offices and ATM points across the country as people struggle to get the new cash which have remained extremely scarce.

“It has triggered riots and other forms of civil unrest,” it added.
“President Buhari is under oath to defend the constitution of Nigeria. As his long term supporters, it will be remiss of us if we fail to warn that the much touted benefits of the naira redesign can never justify the damage to his credentials as a democrat and a stickler for the rule of law,” the ACF said.