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Home ECOWAS Nigeria

Naira swap: FG ‘ll obey Supreme Court order on February 10 deadline–Malami

by Diplomatic Info
February 10, 2023
in Nigeria
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Naira swap: FG ‘ll obey Supreme Court order on February 10 deadline–Malami
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.Police read riot act as banks, POS operators  sell new notes in Anambra

.NMDPRA to sanction filling stations rejecting POS transactions

The Federal Government has resolved to obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of old Naira notes.

The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, confirmed the development in an interview with Arise News on Thursday evening.

He, nevertheless, said that the Federal Government was hopeful that the exparte order which expires on Wednesday, February 15, 2023 would be upturned.

According to him, the CBN which is a necessary party to the issue was not joined and as such the Supreme Court lacks jurisdiction to decide on the matter in the first instance.

However, he said that the decision of the government to obey the Supreme Court order on the naira deadline was upon the administration’s inclination to the rule of law.

Also, The Anambra State  police Command Police  has warned  against any act of violence and protest in the state following the unavailability of the new bank notes in the state.

This is even as customers had accused the  banks in the  state  of hording the new bank notes, partnering with point-of-sale (POS ) operators and selling the  naira to them at exorbitant price.

Sources alleged  that banks sell the  new naira notes at N2000  for N 10000 while  POS  operators sell the  new notes at  a price of N5000 customers who wanted  a cash withdrawal of N10 000 only while no fees were said to be charged  when withdrawing by ATM where the new naira notes were unavailable, a thing  that  the CBN governor, Godwin Emefiele had warned against.

In a statement by the Police  Public Relations  Officer (PPRO ), DSP Ikenga Tochukwu  titled ‘Scarcity of New Naira notes: Anambra State  Police Command Uncovers  Plan of Protest’ and  made available to  journalists in Anambra , Thursday,  February 8, 2023 through  the  Press  Secretary,  Christian Aburime, the command warned against  any  form of protests in the state, saying it  has uncovered plans by some groups  to conduct protests in some parts of  the state in connection with the new naira notes.

The police warned ‘mischief makers to desist from it’ saying the6 ‘police had ensured  the optimal deployment of human and operational resources towards guaranteeing safety and security in the state’.

“Anambra State Police Command today 8/2/2023 has uncovered plans by some groups of persons to take advantage of the new Naira notes scarcity to unleash violence in some parts of the State. The Command has described the scarcity as not peculiar to Anambra State alone and noted that the Federal Government is doing everything possible to address the situation.

“The Command hereby warns these groups/persons to shelve their planned violence or have the full weight of the law to contend with. The Police, in conjunction with other security agencies, have embarked on confidence-building patrols and ensure the optimal deployment of human and operational resources towards guaranteeing safety and security in the State.

“The Command, therefore, enjoined Anambrains and residents alike not to panic and urge the law-abiding residents/visitors of the state to go about their lawful duties without any fear of harassment or intimidation. In the event to request security services call us on 07039194332 or PRO 08039334002 for a prompt response. The ‘npf rescue me app’ is also available for free download on both Android and Apple IOS, for Android and iPhone users respectively”.

Meanwhile, The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations that reject the use of Point of Sale (POS) machines or bank transfers at their outlets.

This is contained in a statement by Mr Kimchi Apollo, General Manager, Corporate Communications and Stakeholders Management, NMDPRA,  on Thursday in Abuja.

The statement frowned at the act by the retail outlets due to the recent cash crunch brought about by the new Naira design.

“It has come to the attention of the NMDPRA that some retail outlets are not accepting the use of POS machines at their fueling stations due to the recent cash crunch brought about by the new Naira design.

“The authority frowns at this recent behaviour which is causing untold hardship for Nigerians at a time when all hands should be on deck to assist the government in the transition to the new Naira,” he said.

Apollo therefore directed all retail outlets to ensure the free use of POS and bank transfer for the sale of petroleum products to alleviate the suffering of customers.

He said the authority and security agencies would be at retail outlets to enforce compliance with the directive, warning that defaulters would be sanctioned.

He reiterated commitment of the Authority towards ensuring quality services in the sale and distribution of petroleum products in the country.

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