urbobo20:
Then it's better we start burning down the Banks just to force cbn to do the needful

IfnobeGod20:

You have not answered the question thrown at you. Court is to interpret laws enacted by the National Assembly. They are not to make law or add arbitrarily to it.
The case brought to it was mopping of the old notes from the circulation by some governors on the order of the president which does not go well with the citizens within their jurisdiction because it heaps untold hardship on them. That the time frame was too short and they even claimed they are not against the policy but they are against the timing.
But as the supreme court delivered the judgement. It chided the president for breaching the law that the president needed to have consulted the council of states before giving such directive but surprisingly instead of the supreme court to dwell on the merit of the case brought before it, it went doing the work of president, CBN and council of states altogether by setting date when the old money would not be legal tender in Nigeria. That is on it own affront to the law. The supreme court should have just voided the directive of Mr. President and ask the parties involved to follow the rules of law than acting as the CBN, president and council of states in such manner. Nigeria is not a banana republic. Rule of law must reign supreme. Supreme court cannot be the alpha and Omega of everything. They can only be the alpha and Omega of interpretation of laws but not other aspect of governance.
On the withdrawal limit, supreme court should have also go ahead and place a limit to the amount that can be withdrew since its placed date when the old notes will not be legal tender. Why saying it was against the law to place limit on the amount customers can withdraw and not go further to give limit for withdrawal. And the funny thing is that they did not quote a single law to back up their claim.
We need be very careful in this country the type of power we are given supreme court justices, hence they will turn this country upside down. Same way someone that doesn't obtained form for senatorial seat was declared as the winner of a primary he never partook.

Sammy07:


May 30th, this guy should be in Jail.

FreedomArmy:
So supreme court is now overseeing monetary policies in Nigeria? Wonders shall never end.
The daily limit on withdrawal is actually a good idea. This has drastically reduced kidnapping and other forms of criminal activities in the country.

iLoveYouToo:
Idiots the ruling is all over the net. You also have a copy of the ruling being joined in the suit, ask your lawyers. Quit feigning ignorance

HellVictorinho7:
nonsense

FreedomArmy:
So supreme court is now overseeing monetary policies in Nigeria? Wonders shall never end.
The daily limit on withdrawal is actually a good idea. This has drastically reduced kidnapping and other forms of criminal activities in the country.

iLoveYouToo:
Idiots the ruling is all over the net. You also have a copy of the ruling being joined in the suit, ask your lawyers. Quit feigning ignorance

olan4ward:


It seems u have been having easy access to the new Naira notes if not u wouldn't come online and be supporting a policy that have been putting a devastating hardships on an average Nigerian ....I am sure u would not be supporting CBN if u have been leaving your house by 4 am to ATM point and still come back empty handed at the end of the day

olamike02:

Kidnappers don't need your worthless naira. $$$$$$ and plenty of it.

Tulsaguy:



Political affiliations has beclouded your sense of judgment. CBN Acts is subject to the Supreme Court scrutiny. In fact every Act or law establishing all agencies of government are to be interpreted by the court.

EzeJustme:

God and die

FreedomArmy:
there is no political affiliation here. I am choosing to see the benefit. Most places I go to buy things accept transfer which was not happening before. If you limit cash in the society,it will help in arresting insecurity and kidnapping.

HellVictorinho7:
nonsense

FreedomArmy:
I'm sorry for those of you who are not use to electronic transfer. Just give it sometime and you will get use to it .

FreedomArmy:
when last did you hear kidnapping and demanding for huge ransom. People should remove their head out of the sand and see reality. I also have difficulty in getting. The little cash I get I keep it for transportation and little run around the state and I pay for my groceries with transfer.

Buddha3:


That's not how it works.

A document of the ruling has to be served on the CBN for it to be binding, moreso given the fact that the apex bank was not even joined in the suit. The clerical section of the supreme court ought to know its responsibilities. The apex bank won't just wake up and effect adherence to the court's ruling because "it's all in the media".

FreedomArmy:
So supreme court is now overseeing monetary policies in Nigeria? Wonders shall never end.
The daily limit on withdrawal is actually a good idea. This has drastically reduced kidnapping and other forms of criminal activities in the country.

Bfly:
Only if this people know what the lower class are passing through.

Politicians have destroyed Nigeria more than anything.

The idea of redesigning naira should not be based on political reason. It is not the role of CBN to fight insecurity or vote buying.

Why do we Police?
Why do we have EFCC?

CBN sole aim is to make optimise the use of naira without causing the people headache.

The fact that Naira has lost its face value is enough reason to understand that CBN has failed us.

But Political lens through which the people see everything in Nigeria is like a dart game having the bulleye on the spine areas of people's back.

Also court to me is still the bedrock civilization while modern civilization is the bedrock of democracy. Rule of law reigns over everything in civilization. Even between husband and wife; Parent and kids.

Only that social media has robbed many Nigerians of there rational mind.


I couldn't imagin some people praising Mr President and CBN Governor when they initiated this because they thought it will favour them political instead of economically. We have more 200notes in street now than even more than the new notes combine.

What an artificial suffering we have subjected ourselves to.

They confiscated our Savings and make use Bleep over 20% to get it, also make us hit and punch one another even before we could get it. Yet bank who is the circulate cash have closed up for days amidst they hardship. The most painful part is that this people who subjected us to this are not even feeling a bit of the hardship.

Buying currency has become a new normal in Nigeria yet CBN is hell bent despite the court ruling.

This is probably a hybrid dictatorship.

Anybody will go insane trying to understand Nigeria.

Limassol:
You think like a 7 year old child. So you think kidnappers are dumb and impatient? Since the weekly limit is 500k, they can patiently take their money in bits. Besides, there are other ways they can go about it. That said, are you wilfully suggesting this silly measure (that punish tha masses more than criminals) is the right way to reduce crime? Are you aware that Nigeria has the second highest unemployment rate in the world? And the highest number of out of school children? Connect the dots!

Limassol:
You think like a 7 year old child. So you think kidnappers are dumb and impatient? Since the weekly limit is 500k, they can patiently take their money in bits. Besides, there are other ways they can go about it. That said, are you wilfully suggesting this silly measure (that punish tha masses more than criminals) is the right way to reduce crime? Are you aware that Nigeria has the second highest unemployment rate in the world? And the highest number of out of school children? Connect the dots!

FreedomArmy:
I'm sorry. You sound like one of those out of school children. Don't mention me again

MyExpression:


Wise man why you no go burn the main CBN or federal government?!

The Nigerian finance sector is regulated.
Every transaction is under the purview of the Nigerian government.

Buddha3:


That's not how it works.

A document of the ruling has to be served on the CBN for it to be binding, moreso given the fact that the apex bank was not even joined in the suit. The clerical section of the supreme court ought to know its responsibilities. The apex bank won't just wake up and effect adherence to the court's ruling because "it's all in the media".

HellVictorinho7:
since buhari and emefiele have not been killed

Rexxie234:
Tinubu may die before then (just speaking) Obi must take his rightful places as president, APC rigged this election.



I hate tinubu!!!

Buddha3:


Lol.

Be mindful of the kind of words you use in public spaces, bro. Statements like this can land you in a world of trouble with the law.