{"id":82783,"date":"2023-02-18T12:04:38","date_gmt":"2023-02-18T11:04:38","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments"},"modified":"2023-02-18T13:25:56","modified_gmt":"2023-02-18T12:25:56","slug":"new-naira-notes-el-rufais-counter-order-sparks-legal-arguments","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments","title":{"rendered":"New Naira notes: El-Rufai\u2019s counter order sparks legal arguments"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>President Muhammadu Buhari addressed Nigerians on Thursday morning amid the current cash crunch which has become a major issue in the country.<\/p>\n<p>Buhari directed that the old N200 notes be re-introduced into circulation, as they will remain legal tender until April 10.<\/p>\n<p>The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, then met with the 15 heads of commercial banks to discuss updates to the Naira swap policy.<\/p>\n<p>But There was more drama to come.<\/p>\n<p>Later in the day, the Governor of Kaduna State, Nasir El-Rufai, arranged his own broadcast to residents of the state.<\/p>\n<p>\u201cOn behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes.<\/p>\n<p>\u201cLet no artificial and illegal deadline frighten you.<\/p>\n<p>\u201cWhether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them.<\/p>\n<p>\u201cContinue to use them as legal tender as ordered by the Supreme Court of Nigeria. No deadline can render them worthless, ever. The law is on your side,\u201d El-Rufai said.<\/p>\n<p>El-Rufai\u2019s very public antagonism of Buhari has led to debates online and offline about the rule of law, the autonomy of the CBN and just how much authority the president wields.<\/p>\n<p>Ridwan Oke, the managing partner, The Iris Attorneys LP, a Lagos-based law firm, spoke to DAILY POST and gave his insights.<\/p>\n<p>\u201cAs for Naira notes, it is my opinion that it is still a legal tender. Pronouncements of the President is not a law.<\/p>\n<p>\u201cAlso, when a matter is before the Court, even if you have contrary view against the order of the court, the appropriate way is to approach the Court to vacate the order and until that order is vacated or varied, it is the law for that moment.<\/p>\n<p>\u201cThe President flouting the ruling of the Supreme Court is a bad precedent for this country.<\/p>\n<p>\u201cSo, if the President is flouting the order of the court, even if he gives an order, the order is invalid and no one is bound to follow it,\u201d Oke explained.<\/p>\n<p>But El-Rufai is not anyone. He is an important voice in Nigerian politics, especially in the All Progressives Congress (APC) and the North.<\/p>\n<p>Oke added, \u201cEl-Rufai has the right to go against the President as he is merely following a legitimate court order, the highest Court in the land.<\/p>\n<p>\u201cArguments could be made that APC Governors are doing it for their personal gains but still, it doesn\u2019t mean that they don\u2019t have the backing of a legitimate court order.\u201d<\/p>\n<p>Similarly, the spokesperson for the All Progressives Congress Presidential Campaign Council, APC-PCC, Festus Keyamo said he is opposed to President Muhammadu Buhari\u2019s position on the new naira notes.<\/p>\n<p>Keyamo, a minister in Buhari\u2019s administration and Senior Advocate of Nigeria, noted that the Nigerian leader might have acted on a wrong counsel after the Supreme Court judgement.<\/p>\n<p>\u201cThe President acted honestly without intention to slight the Supreme Court. But he may have acted on wrong advice,\u201d he said on Channels Television\u2019s The 2023 Verdict on Friday.<\/p>\n<p>The Minister of State (Labour) said though he doesn\u2019t know who advised the President, he was speaking out because people will later ask \u201cwhere I stood at this time\u201d.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. President Muhammadu Buhari addressed Nigerians on Thursday morning amid the current cash crunch which has become a major issue in the country. Buhari directed that the old N200 notes be re-introduced into circulation, as they will remain legal tender until April 10. The Governor of the Central Bank of Nigeria, CBN, Godwin [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":82782,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28],"tags":[1570,2140,1651,9092,254],"class_list":["post-82783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","tag-africa-press","tag-africa-press-nigeria-2","tag-el-rufai-2","tag-new-naira-notes","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Naira notes: El-Rufai\u2019s counter order sparks legal arguments - Nigeria<\/title>\n<meta name=\"description\" content=\"President Muhammadu Buhari addressed Nigerians on Thursday morning amid the current cash crunch which has become a major ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Naira notes: El-Rufai\u2019s counter order sparks legal arguments\" \/>\n<meta property=\"og:description\" content=\"President Muhammadu Buhari addressed Nigerians on Thursday morning amid the current cash crunch which has become a major ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-18T11:04:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-18T12:25:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/02\/postQueueImg_1676709286.20.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"609\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New Naira notes: El-Rufai\u2019s counter order sparks legal arguments\",\"datePublished\":\"2023-02-18T11:04:38+00:00\",\"dateModified\":\"2023-02-18T12:25:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\"},\"wordCount\":576,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/02\/postQueueImg_1676709286.20.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"El Rufai\",\"New Naira Notes\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/new-naira-notes-el-rufais-counter-order-sparks-legal-arguments\",\"name\":\"New Naira notes: El-Rufai\u2019s counter order sparks legal arguments - 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