Human rights lawyer Femi Falana (SAN) says the suffering of the Nigerian people is worsening over the currency crunch, adding that President Muhammadu Buhari’s Thursday broadcast gave no hope.
The Chairman of the Alliance on Surviving Covid 19 and Beyond (ASCAB) said this in a statement he signed on Thursday.
According to him, Buhari’s decision to allow only the N200 note in circulation and keep the old N500 and N1000 notes out of circulation is not enough to end the crisis, saying that there are not enough old 200 naira notes to replace all the old N1,000 and N500 notes.
Noting that the “crisis” was created by the government, Falana said it is only the government that can end it. He said that unless firm action is taken, “this crisis will get worse in the days to come.”
The Senior Advocate also said that the decision of the President to exclude old N500 and N1000 notes from the legal tender is of no legal effect as it constitutes a contravention of section 287(1) of the Constitution.
He urged the Federal Government to comply with the judgment of the Supreme Court which ordered that the old notes remain legal tender without any further delay.
See the full statement below:
FG MUST END THE SUFFERING OF NIGERIANS
The suffering of the Nigerian people is getting worse by the day. President Buhari in his message to the nation gave no hope that this suffering will end anytime soon. We need action now to reverse the fuel price increases and to make money available again. Our suffering cannot continue – we cannot live like this. After 13 days (rather than seven) President Buhari eventually announced a decision this morning. But it is not enough to end the crisis. There are not enough old 200 naira notes to replace all the old N1,000 and N500 notes. In addition, the new deadline of 10th of April is too close.
If the government was serious, the crisis could be ended in a few days. All the old currency notes could be made legal tender until the end of the year. In addition, all the old currency could be changed at the banks as well as at the CBN until the end of next year. This would give confidence back in the markets and the old currency would again be accepted.
The problem is that the corrupt elite think that increased suffering and deaths of the common people is a price worth paying if they defeat their opponents. Hungry people can no longer buy food and so they are in more danger of dying from common diseases. People cannot afford to travel to hospital. If they get there they cannot afford tests. If they take the tests they cannot afford the medicine.
This crisis was created by the government. It is only the government that can end the crisis. The government could end this crisis in a matter of days. The CBN could issue old currency notes to the banks to issue to the public in a matter of days. That is all that is needed to end the crisis. The untold crisis across the country, the misery, suffering and deaths are a result of a fight between different clans of the corrupt elite. The common people are suffering as a result of disputes over who will loot for the next four years or more.
Eso said inter alia:
What remains now is an examination of the act of the Respondents in dismissing the Appellant from office during the pendency of the action. Such action, I think is contemptuous of the judiciary, which has been seized with determination of civil right under the constitution and which has been left unscathed by all military coups. For the judiciary, a powerful arm of government to operate under the rule of law, full confidence, and this must be unadultarated, must exist in that institution. It must indeed be demonstrably shown especially if it is the other arms of government that are involved. In civil days, both the Executive and the Legislation must show to the entire nation their demonstrable confidence in the judiciary. The responsibility is greater during military rule. The military in coming to power is usually faced with the question as to whether to establish a rule of law or rule of force. While the latter could be justifiable a rule of terror, once the path of law is chosen the mighty arm of government, the militia which is an embodiment of legislature and executive must in humility bow to the rule of law thus permitted to exist.”
In view of the foregoing, we urge the Federal Government to comply with the judgment of the Supreme Court without any further delay. After all, President says loudly that he has since become a converted democrat.
Femi Falana SAN,
The Chair,
Alliance on Surviving
Covid 19 and Beyond (ASCAB)
