• News - South West - Oyo
  • Updated: March 04, 2023

Naira Redesign: Olubadan Throws Weight Behind Supreme Court Judgement

The Olubadan of Ibadanland, Oba Lekan Balogun has thrown his weight behind the Supreme Court judgment of Friday which extended the deadline for the old Naira notes till December 31, 2023.

Oba Balogun made this known in a press statement by his Personal Assistant (Media), Oladele Ogunsola.

The traditional ruler called on the Federal Government to latch on the judgment to ease the pains and tension in the land.

Oba Balogun also praised the Supreme Court for standing by the people at this critical moment when living was becoming extremely difficult for the ordinary citizen.

The Federal Government through the Central Bank of Nigeria (CBN) had fixed January 31, 2023 as deadline for the validity of the redesigned Naira notes of N1,000, N500 and N200.

It was later postponed to February 10, 2023.

However, some of the state governors had approached the court and for which the court had given two adjournments.

At the first hearing of the case on the February 8, 2023, the court ruled against the February 10 deadline.

The CBN however did not obey the ruling, insisting to uphold the deadline hitherto set.

As a form of palliative however, the FG later announced the extension of the validity of the old N200 note till April 10, 2023.

Wth the Friday judgement making all the redesigned notes valid till the end of this year, Oba Balogun hinted that it was a great opportunity for the Federal Government to bring succour to the people by releasing money to the populace.

"The last couple of weeks were too traumatic for the people and it is hoped that the Supreme Court judgment would be a platform to lean on by the government to ease the pains in the land.

“I felt deep pains seeing people queing up at filling stations and banks at the same time.

“Even when fuel seemed available and the queues reduced, at what price?

"And when people were ready to buy at whatever price, where was the money?

"All these almost stretched the masses beyond the limit and that’s why the Supreme Court judgment was a balm that could sooth the pains."

The monarch disclosed that the judgment brought personal relief to him as an individual.

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Francis Ezediuno
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