President Muhammadu Buhari, on Monday, practically washed his hands of the continued stagnation of the country’s financial sector, saying the present currency crunch being experienced by Nigerians was no longer his making.
Short of asking Nigerians to hold the Attorney General of the Federation, Abubakar Malami and Central Bank of Nigeria (CBN) Governor responsible for the worsening situation, the President, explained that at no time did he instruct the duo to flout the orders of the Supreme Court, that the old N200, N5000 and N1,000 earlier declared no longer acceptable as legal tenders, should be reintroduced into the system.
The apex court, on the strength of the arguments of 10 state governors, mostly of the All Progressives Congress (APC), had on March 3, in its judement reversed the deadline of February 10 the CBN governor had announced for the currencies to be legally acceptable.
Instead, the Court, which had initially halted the move on February 8, had reiterated its orders a week later on February 15, only for Buhari to announce through a nationwide broadcast that only the N200 should be returned.
However, Before its judgement of March 3, Justice Emmanuel Agim, who read the unanimous judgement of the apex court had berated Buhari for his action as unconstitutional use of executive powers and breach of the fundamental human rights of Nigerians, while extending the lives of the currencies to December 31.
But, expectant Nigerians, who had rushed to the banks hoping for a thaw in their suffering, were surprised at the unclear signals, especially as the banks claimed there was no clear directives of the CBN on the matter, which gave the disturbing impression that the orders of the apex court were being obeyed in breach.
Garba Shehu, presidential spokesman, in a statement on Monday, completely absolved his boss of blame in the matter, apparently to put a lie to the insinuation that the unclear signals was from the President who was not ready to obey the orders.
The statement, read: “The Presidency wishes to react to some public concerns that President Muhammadu Buhari did not react to the Supreme Court judgement on the issue of the N500 and N1,000 old currency notes, and states here plainly and clearly that at no time did he instruct the Attorney General and the CBN Governor to disobey any court orders involving the government and other parties.
“Since the President was sworn into office in 2015, he has never directed anybody to defy court orders, in the strong belief that we can’t practise democracy without the rule of law and the commitment of his administration to this principle has not changed.
“Following the ongoing intense debate about the compliance concerning the legality of the old currency notes, the Presidency therefore wishes to state clearly that President Buhari has not done anything knowingly and deliberately to interfere with or obstruct the administration of justice.
“The President is not a micromanager and will not, therefore, stop the Attorney General and the CBN Governor from performing the details of their duties in accordance with the law. In any case. it is debatable at this time if there is proof of willful denial by the two of them on the orders of the apex court.
“The directive of the President, following the meeting of the Council of State. is that the Bank must make available for circulation all the money that is needed and nothing has happened to change the position.
“It is an established fact that the President is an absolute respecter of judicial process and the authority of the courts. He has done nothing in the last eight or so years to act in any way to obstruct the administration of justice, cause lack of confidence in the administration of justice, or otherwise interfere or corrupt the courts and there is no reason whatsoever that he should do so now when he is getting ready to leave office.
“The negative campaign and personalised attacks against the President by the opposition and all manner of commentators is unfair and unjust, as no court order at any level has been issued or directed at him. As for the cashless system the CBN is determined to put in place, it is a known fact that many of the country’s citizens who bear the brunt of the sufferings, surprisingly support the policy as they believe that the action would cut corruption, fight terrorism, build an environment of honesty and reinforce the incorruptible leadership of the President.
“It is therefore wide off the mark to blame the President for the current controversy over the cash scarcity, despite the Supreme Court judgement. The CBN has no reason not to comply with court orders on the excuse of waiting for directives from the President.
“President Buhari has also rejected the impression that he lacks compassion, saying that “no government in our recent history has introduced policies to help economically marginalised and vulnerable groups like the present administration.”