It’s not proper, Wike attacks Buhari for not lifting restriction on old N500, N1000 notes

Governor Nyesom Wike of Rivers State has faulted President Muhammadu Buhari’s decision banning the use of old N500 and N1000 notes.

Wike, who expressed sadness over Buhari’s declaration, stressed that it was not proper.

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

The Supreme Court had ordered the Federal Government and the CBN to discontinue with the deadline pending the determination of a motion on notice in respect of the issue on February 22.

But, Buhari directed the apex bank to recirculate only the old N200 notes with the new ones.

However, Wike said the President’s declaration, despite the Supreme Court ruling, was not proper.

In a media chat, the governor said: “The highest court of the land has made a pronouncement. The Supreme Court has said do not do anything that will affect the use of the old naira note.

“I feel that the President’s declaration is not the proper thing and I am not happy.

“This also tells us how we do not respect or obey the rule of law. At this level, the advisers to the President would have said, ‘This issue is subject to litigation and any step you take will one way or the other affect the Supreme Court’s (stance)’.”