Why CBN Must Obey Supreme Court Ruling On Old Naira Notes – Falana

Why CBN Must Obey Supreme Court Ruling On Old Naira Notes – Falana

Femi Falana, SAN, a prominent human rights activist, has explained why the Central Bank of Nigeria, CBN, must comply with the Supreme Court’s order regarding the currency swap crisis.

Falana said in a statement on Thursday that the apex bank should not be misled by reports and opinions suggesting that it could disregard the Supreme Court’s ruling prohibiting it from enforcing the ban on old Naira notes.

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In his statement titled “Why CBN Must Obey Supreme Court Ex Parte Order,” he cited numerous cases that supported the court’s decision.

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He requested that the CBN and its management allow the judgment to run its full course in the interim, pending the Federal Government’s filing of an order of dismissal.

Falana warned that failure to do so would spell disaster for the country.

He said: “In the interim, the Federal Government of Nigeria and its agencies, including the Central Bank of Nigeria, are bound by the valid and subsisting ex parte order of the Supreme Court of Nigeria until it is set aside by the same court. The alternative is to compound the ongoing anarchy and chaos in the land”.

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