March 9, 2023
A Constitutional Lawyer, Mr Kayode Ajulo, has said that any attempt by the Central Bank of Nigeria (CBN) to disobey the Supreme Court judgment on the legality of the old N200, N500 and N1,000 will amount to a treasonable felony.
He said the court’s decision is unimpeachable, adding that it defined the Supreme Court in its exalted peculiar position as a law interpreter, law maker and policy maker.
“The judgment is a constitutional matter.
The Apex Court is one of the three arms of government which is saddled with the responsibility of interpreting the law.
“The case on the old naira notes has been interpreted accordingly by the court and any violation will amount to a treasonable felony,” he said.
He said the court’s position remained that of the constitution, adding that disobeying such position could be a threat to the nation’s constitution.
Ajulo however said the CBN would have no option than to obey the judgment of the Apex Court because it is the highest court in the land.
He said every Nigerian deserved to be paid compensation sequel to the action taken by the CBN on old naira notes which brought untold hardship on the citizenry.
Ajulo said he would have loved to see the Apex court ordering for a certain amount of fines to be paid to every Nigerians for the hardship experienced due to such thoughtless action.
He described the action of the CBN as unconstitutional, adding that the decision passed the characteristic of a good judgment.
The Supreme Court, on March 3 nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.
The apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders until Dec. 31.
It held that the old Naira notes should be used alongside the redesigned currencies. (NAN)
