The Kaduna State Government has welcomed the ruling of the Supreme Court, extending the use of the old naira notes beyond the deadline set by the Central Bank of Nigeria for February 10.
In a statement released on Wednesday, Muyiwa Adekeye, the governor’s special adviser on media and communications, commended the high court for its verdict and urged the federal government to use it as a chance to alleviate suffering.
According to the statement, the “governments of Kaduna, Kogi, and Zamfara states were forced to approach the Supreme Court to ameliorate the undue stress inflicted on ordinary people and their livelihoods by the ill-timed, incompetent preparation and execution of an overnight cashless policy.
Adekeye contended that CBN failed to provide any evidence of an emergency in support of what he called “this cruel move to deny people access to their deposited funds.”
The Federal Government and the Central Bank of Nigeria have been substantially engaged, he claimed. According to chennel.
This has included providing evidence-based evidence of the damage posed to economic and social activities by this narrow-minded strategy, which would have been denounced as harsh and callous if it had been implemented by an invading authority.
He asserted that the callous imposition of this level of pain when there is neither a pressing emergency situation nor obvious benefits for residents or the economy “is not to the credit of a sovereign, democratic government.”
He expressed the desire of the Kaduna State Government that the currency swap policy will now be reviewed in order to create a better implementation plan.
He recommended that the proposal contain a timeframe that gives our folks access to adequate old and new currency notes, prioritizes public welfare, and boosts economic activity.
Adekeye continued, “Like other elected APC state governments, we have advised that this should be based on a whole-of-government approach that brings together all necessary federal and state government institutions, recognizes international best practices, and has a reasonable timeline for implementation.