Currency swap: APC seeks out-of-court settlement in face-off between Govs, President


By Lanre Oloyode with agency report

There are indications that the three governors elected on the platform of the All Progressives Congress, APC may have bowed to pressure and are considering out-of-court settlement of the rift between them, the Federal Government and the Central Bank of Nigeria, CBN over naira redesign policy.

It would be recalled that the governors had approached the Supreme Court seeking extension period for the swap of the old naira notes which was fixed for February 10, 2023 which the apex Court granted.

However, the federal government and the Central Bank of Nigeria did not heed the court’s ruling as it insisted that from February 10, the old N200, N500 and N1,000 notes ceased to be legal tender.

It was reliably gathered that ahead of the Supreme Court ruling on the matter on Wednesday, February 22, the leadership of the ruling All Progressives Congress (APC) on Monday brokered a truce between them and the Attorney General and Minister of Justice, Abubakar Malami at a meeting held at the National Secretariat of the party.

Four governors of the party also attended the meeting. They were Yahaya Bello of Kogi State, Bello Mattawale of Zamfara, Nasir El-Rufai of Kaduna and Atiku Bagudu of Kebbi State.

Though details of the meeting was not revealed to journalists, Nigerian Pilot gathered it may not be unconnected with the statement issued by the National Working Committee, NWC of the party and governors of the party asking the federal government to obey the Supreme Court order on the naira redesign policy.

Nigerian Pilot recalled that the NWC of the party after a meeting with Governors elected on the platform of the party and its presidential candidate, Asiwaju Bola Ahmed Tinubu in Abuja on Sunday maintained that the order of the apex court “is still subsisting”.

The meeting also urged President Muhammadu Buhari to urgently intervene and halt the current suffering occasioned by the faulty implementation of the monetary policy.

Kaduna, Kogi and Zamfara had taken the Federal Government and the CBN to the Supreme Court to suspend the naira swap over hardship faced by Nigerians.

Despite the order of the apex court, the Federal Government and the CBN proceeded to implement the policy, which has continued to unleash untold hardship on Nigerians.

Addressing newsmen on the resolution of the meeting which lasted for about three hours, APC Chairman, Senator Abdullahi Adamu, said the party, Governors and party’s presidential candidate are on the same page.

Malami was reported to have opposed the Supreme Court order insisting that the CBN was not joined in the suit filed at the apex court.

The Supreme Court is expected to rule on the matter on Wednesday February 22.

Our correspondent at the national secretariat of the party reported that neither Malami nor any of the four governors spoke to journalists after the meeting.