SERAP TAKES LEGAL ACTION AGAINST BUHARI
A non-governmental organization called the Socio-Economic Rights and Accountability Project has taken legal action against Nigeria's President, Muhammadu Buhari, for banning the use of old N500 and N1,000 banknotes, despite an interim injunction by the Supreme Court that these old notes should still be legal tender.
The Attorney General of the Federation and Minister of Justice, as well as the Central Bank of Nigeria, have also been named as defendants in the lawsuit. The Supreme Court had earlier ruled that the old banknotes remain legal tender until a motion on notice is determined on February 22.
However, Buhari, in a recent national broadcast, directed the CBN to recirculate only the old N200 banknotes, banning the use of old N500 and N1,000 notes in the country.
SERAP is now seeking the court's determination on whether Buhari's directive is inconsistent with the constitutional duty to obey decisions of the Supreme Court and his oath of office.
SERAP is asking the court to declare Buhari's directive as a violation of the citizens' fundamental rights to property and to conduct transactions with the old banknotes.
They are also seeking an order of the court to set aside the directive, to direct the CBN to continue to accept the old banknotes as legal tender, and to extend the deadline for the swap of the old notes.
The ban on the old N500 and N1,000 notes has generated controversy, with many Nigerians expressing their displeasure with the government's decision.
The ban has been seen as an attempt to force citizens to deposit their money in banks and to promote the use of electronic payment systems.
SERAP has argued that the ban is discriminatory, as it affects the poor who may not have access to banks and electronic payment systems.
They have also stated that the ban will cause economic hardship, as many people who depend on the old banknotes for their livelihood will be unable to conduct their business transactions.
It remains to be seen how the court will rule on the matter, but the case highlights the importance of upholding the rule of law and protecting the rights of citizens in a democratic society.
This same post is also available on my blurt account with the same username @olusolaemmanuel HERE