“TAKE NOTICE that if you fail or refuse to furnish us with the requested information before the deadline of seven days we shall not hesitate to pray the Federal High Court to compel you to accede to our request.”
This was the final tone with which Femi Falana, Rights activist and Senior Advocate of Nigeria (SAN), demanded from the Central Bank of Nigeria (CBN), critical information, regarding how it had carried out the monetary policy it rolled out in October last year, particularly the redesign and distribution of new Naira notes it embarked on.
Falana, in a letter of request from the apex bank under the banner of the Freedom of Information Act, particularly demanded details of the amount of new naira notes distributed to commercial banks across the country and the list of customers who have withdrawn more than the N100,000 maximum sum approved by the apex bank.
The letter is coming at a time both the Federal Government and governors of 10 states in Nigeria would return to the Supreme Court to continue the legal battle in a suit originally filed by Governors Nasir El-Rufai of Kaduna, Yahaya Bello of Kogi and Bello Matawalle of Zamfara States, challenging the deadline of February 10 the government and the CBN had pegged for the N200, N500 and N1,000 to cease to be legal tenders. Though the apex court, which granted an interim order by the governors, had reaffirmed it on Wednesday, President Muhammadu Buhari, had in a nationwide broadcast given life to only the N200 notes, a move some lawyers, and other interest groups, believed was a flagrant disregard of the orders of the apex court.
The rights activist, in the letter through the Falana Chambers, signed by Femi Adedeji, ESQ, dated February 16, 2023, Falana demanded that the CBN should provide details on how the new notes were disbursed to commercial banks, said the demand was based on the claim by the CBN that it printed enough notes, but that some unscrupulous politicians mopped up the consignments it sent to commercial banks for distribution to the public.
The letter read: “Our attention has been drawn to your statement wherein you claimed that some unnamed politicians have mopped up the new naira notes made available to all commercial banks by the Central Bank of Nigeria.We are compelled to request you to furnish us with information concerning the amount of the designed notes of N200, N500 and N1,000 denominations made available to each commercial bank by the Central Bank of Nigeria.
“Furthermore, we also request you to furnish us with the list of customers of the commercial banks who collected more than N100,000 approved by you from the commercial banks. As this request is made pursuant to the provisions of the Freedom of Information Act 2011, you are required to accede to our request within seven days of the receipt of this letter.