Naira Scarcity: FG’s Lawyer Explains Why Buhari Approved Recirculation Of Only N200 Despite Supreme Court Ruling

The counsel for the Attorney General of the Federation, Kanu Agabi SAN, has responded to claims that President Muhammadu Buhari disobeyed the Supreme Court’s directive to allow usage of all old notes pending determination of a suit against demonetization of the old.

The Kaduna, Kogi and Zamfara State governments had told the Supreme Court that the FG violated its orders.

Agabi, on Wednesday, opposed the plaintiffs’ request to set aside the president’s directive that only N200 among old notes should be used alongside the new notes.

He argued that the matter should not have commenced “at all” at the Supreme Court.

He reminded the panel that CBN was mentioned 32 times in the originating summons of the plaintiffs but that the complainants did “not think it fit to bring the CBN” before the court.

He argued the CBN was the appropriate body to be sued, citing seven of the eight plaintiffs’ reliefs as being against the apex financial regulator, not the AGF.

But the court asked Agabi if the president’s constitutional powers includes disobeying court orders.

“Long before the court made that order, Nigerians were rejecting the old notes,” Agabi replied, saying the president directed Nigerians to go and deposit the old notes at the CBN and banks so as to save the nation from calamity.

He contended that president Muhammadu Buhari has constitutional powers “to veto legislation.”

According to Agabi, all the processes filed by Attorney-Generals of the aforementioned state governments were only done in interest of politicians because no reference was to any citizen being affected by the president’s directive.

After arguments were taken, the apex court adjourned till March 3 for judgement on the case.