Adegboruwa, a Senior Advocate of Nigeria, who was reacting to the decision of the court extending the circulation of the old banknotes to December 2023, described it as a courageous confirmation of the sanctity of the rule of law and due process, in a democracy.
A human rights lawyer, Ebun-Olu Adegboruwa (SAN), has hailed the Supreme Court decision on the naira redesign policy, saying the court is still the last hope of the common man.
Adegboruwa, a Senior Advocate of Nigeria, who was reacting to the decision of the court extending the circulation of the old banknotes to December 2023, described it as a courageous confirmation of the sanctity of the rule of law and due process, in a democracy.
"It is a soothing relief from the hardship that Nigerians have been subjected to, over the past few weeks, on account of this rather thoughtless policy," he said while describing the policy as arbitrary and capricious.
SaharaReporters reported that the nation's apex court on February 8 restrained the Federal Government from implementing the February 10 deadline for swapping the old naira notes with new ones.
However, despite the ex parte order, the Central Bank of Nigeria, which is the apex bank and the bankers’ bank refused to shift the deadline, saying it was not a party to the suit challenging its decision.
It had been reported that the Zamfara, Kogi and Kaduna state governments dragged the Attorney-General of the Federation before the apex court on February 3.
Upon an ex parte motion, the court restrained the government from stopping the old banknotes from being used as legal tender on February 10.
Later, other states - Lagos, Ondo, Ekiti, Kano, Sokoto, Ogun and Cross River filed a motion to be joined in the suit as co-plaintiffs.
But on Friday, the Supreme Court extended the implementation of the new naira swap to December 31, 2023.
Hailing the decision of the court in a statement titled: "Naira Redesign: The Court Still Remains The Last Hope," Adegboruwa said the “court should always be the platform for the resolution of all disputes by all aggrieved persons”.
He continued, "I salute the sagacity and courage of the justices of the Supreme Court for rising up to rescue Nigerians from the pangs of death, frustration and looming economic recession.
"As there is no room for further appeal against the judgment of the Supreme Court, I urge the President to immediately direct the Central Bank of Nigeria to comply fully with the judgment of the Supreme Court, as stated under section 287(1) of the Constitution and allow ALL the N200, N500 and N1000 old Naira notes to be circulating along with the Naira new notes till December 23, 2023.
"Across all our land today, there will joy in many homes, businesses will bounce back and Nigerians will find cause to celebrate their freedom from all forms of dictatorship and arbitrariness."