Amid the lingering scarcity of new naira notes as a result of the recent currency redesign policy of the Central Bank of Nigeria (CBN) and its attendant hardship on the citizens, the Arewa Consultative Forum (ACF) has faulted President Muhammadu Buhari for disobeying the Supreme Court judgment ordering the recirculation of the old naira notes till December 31, 2023.
The Northern socio-political group described the President’s action as a damage to his credentials as a democrat and a stickler for the rule of law.
In a statement issued by its Secretary General, Murtala Aliyu on Sunday, the ACF lamented that the naira redesign policy has led to runaway inflation in food and other commodities.
The group said, “Whatever the CBN or anyone else say about the benefits of the policy, which evidently are many, is of little comfort as soon as the highest court in the country has deemed that it is, or, at least the manner of its implementation, breaches the law.”
The ACF also warned that the crisis has the possibility to morphed into a serious social disorder leading to the possible breakdown of law and order throughout Nigeria.