The controversy surrounding the Naira swap deadline began when the Supreme Court upheld the decision of the lower court which directed the Central Bank of Nigeria (CBN) to pay a sum of N8.1 billion to Tivvy Enterprises Limited, a company owned by a Nigerian businessman, Dr. Ikenga Ugochinyere.
The CBN failed to comply with the court order, arguing that it would disrupt the monetary policy of the country and create a precedent that could lead to a flood of similar claims against the bank.
The situation has caused widespread criticism of the government's respect for the rule of law, with many Nigerians calling for the President to intervene and ensure that the court order is obeyed.
In response to the criticism, the Presidency has maintained that President Buhari has always respected the judiciary and the rule of law, and that he has not interfered with the activities of the Attorney General of the Federation or the Governor of the CBN.
The statement by Mallam Garba Shehu also pointed out that the President has introduced policies that are aimed at helping economically marginalized and vulnerable groups in the country, and that his administration is committed to fighting corruption, terrorism, and building an environment of honesty.
Despite the Presidency's assurances, there is still a widespread belief among Nigerians that the government is not doing enough to respect the rule of law and ensure that court orders are obeyed. Many are calling for greater transparency and accountability in the government's handling of the situation, and for the CBN to comply with the court order as a matter of urgency.
Credit: Vangaurd News
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