Wike criticizes Buhari for lifting restriction on old N200 notes, claiming it is improper

The Rivers State governor, Nyesom Wike, has criticized President Muhammadu Buhari’s decision to outlaw the use of the old N500 and N1000 notes.

Wike emphasized that it was improper and expressed sadness over Buhari’s statement.

The Central Bank of Nigeria had moved the N200, N500, and N1,000 swap deadline from January 31 to February 10.

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The Federal Government and the CBN were instructed to stop meeting the deadline by the Supreme Court on February 22 while a motion on notice regarding the matter was being decided.

Buhari, however, instructed the central bank to only exchange the old N200 notes for the new ones.

Wike asserted that the President’s declaration was improper despite the Supreme Court’s decision.
The governor stated during a press conference that “the highest court of the land has made a pronouncement. Do not take any actions that will impact the usability of the old naira note, the Supreme Court has ordered.

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“I don’t like the President’s declaration because I believe it to be improper.

This further demonstrates our disregard for and disobedience of the law. The President’s advisors would have said at this level, “This matter is litigated, and any action you take will, in one way or another, affect the (stance) of the Supreme Court.”