Naira Swap: Malami Breaks Silence on Supreme Court Ruling

• The AGF and minister of justice, Abubakar Malami, has said the federal government did not violate the Supreme Court ruling on the naira redesign policy
• Malami made the comment while speaking at the ministerial briefing organised by the presidential communication team
• President Buhari, in a recent broadcast, directed the CBN to recirculate the old N200 notes, while N500 and N1000 notes cease to be legal tender, as against the ruling of the apex court

FCT, Abuja - Abubakar Malami, the attorney general of the federation and minister of justice, has maintained that the federal government did not go against that Supreme Court ruling that restrained it from implementing the February 10 deadline for the old N200, N500 and N1000 notes.

According to The Nation, Malami revealed the federal government's position during a ministerial briefing organised by the Presidential communication team at the presidential villa, Abuja.

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On Thursday, February 16, the president, in a national broadcast, ordered the Central Bank of Nigeria (CBN) to recirculate the N200 notes while maintaining that the old N500 and N100 notes are no longer legal tender.

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The president's directive was against the order of the supreme court that said that the old naira notes remain legal tender until it delivers its judgment on the case instituted by some states against the federal government on the naira redesign policy.

The President's broadcast has generated criticism from many Nigerians who accused Muhammadu Buhari's administration of breaching the court's order.

But Malami's comment partly reads:

“The fact, clearly, that we are not a breach of any order made by the court, inclusive of any order associated with the naira redesign. We are not in breach. I believe I’m not a banker but you have not gone to establish which bank is it that you have gone to present N1000 or N500 notes that have been rejected. So we are not in breach."

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Adamu, El-Rufai, 2 Other APC Governors Meet Malami, Details Emerge

Legit.ng earlier reported that Abdullahi Adamu, the APC national chairman, has met with Abubakar Malami, the attorney general of the federation and minister of justice.

Also at the brief meeting were governors Nasir El-Rufai of Kaduna, Bello Matawale of Zamfara and Yahaya Bello of Kogi states.

The meeting was on the naira redesign policy of the federal government and possible out-of-court settlement with the three states that are challenging the policy at the supreme court.

Source: Legit.ng