For ordinary Nigerians, the ruling by the Supreme Court is a victory for justice. I believe that the efforts of the three governors in this regard should be commended by the entire Nigerian population, regardless of political affiliation.
My understanding is that the goal of going to court is not to ridicule anyone or harm anyone’s interests, but rather to fix the problems with the current policy.
The state’s residents have been instructed by Governor Mattawalle to continue using both the old and new Naira notes, and he has also instructed security personnel to detain anyone who refuses to accept the old Naira notes as legal tender. What do you think of this?
In fact, the governor has met with all of the state’s bank managers. He urged them to prioritize the people’s needs.
He urged those who disobeyed the Supreme Court to respect the nation’s highest court.
As the state’s Chief Security Officer and the ruling’s frontline advocate, he has the authority to enforce it in the public interest.
As a result, anyone who is found to be hindering these efforts has been warned to stop or face arrest and prosecution.
According to Matawalle, the current redesign was implemented incorrectly and out of time. Do you support this, and if so, why?
The policy is unquestionably good. Without this modernity, no nation on the planet will be able to survive the current economic order.
Because more money will be in banks than in people’s hands, the cashless policy is the best way to help the economy. Banks will be able to lend more money to businesses and finance more projects as a result of this.
However, the majority of countries that achieve success in this area apply the policy gradually. The procedure cannot be abrupt but must be gradual. Both the populace and the economy will not suffer as a result.
In our case, it came to us very suddenly and in a cumbersome way.
The fact that it must be implemented at a crucial point in our political transition only makes matters worse.
You were probably there when the Chairman of the Independent National Electoral Commission paid the CBN Governor a visit to express his concern about the success of his agency’s operation during this crisis.
Related News States, police crack down on traders who reject old notes. Tinubu offers six solutions to the problems with the new naira. Kwankwaso calls the new naira’s design a mistake. The agency needs enough fuel to run around freely. It also needs money to pay for staff relocation, allowances, and other needs. The money is hard to come by. Some of the issues we’re discussing are listed here.
According to Matawalle, the Central Bank’s decision to cease accepting the old naira notes as legal tender on February 10 has thrown the nation into a serious crisis. Could you elaborate on this further?
You will see the practical answer to your question if you go out into the streets today. Instead of seeing people going about their normal business, you only see people waiting in front of commercial banks for the banks to drizzle a few Naira notes into their Automated Teller Machines so that a few people can get some.
If there is a network for them to pay with the Point of Sales terminal, you will see people fighting to get fuel at a controlled price if you go to the filling stations. When you go to the market, you’ll see small businesses falling apart because they don’t have enough money to buy their goods; Those who own perishable goods are losing money.
Instead of remaining in office, civil servants now look for the tiniest sum of money to buy sporadic food items for their families’ day-to-day survival.