Malami Vows to Defend Benefits of the New Naira Notes In Court
The adoption of the Central Bank of Nigeria’s (CBN) naira redesign strategy, according to Abubakar Malami, Attorney General of the Federation and Minister of Justice, greatly decreased the number of kidnappings in the nation.
In an interview with Radio Nigeria Kaduna, the AGF claimed that the policy had advantageous aspects that were not taken into account.
The usage of the old naira notes, N200, N500, and N1,000, has been prohibited by a seven-member Supreme Court panel chaired by John Okoro since February 10.
Three states—Kaduna, Kogi, and Zamfara—filed an ex parte application, and the supreme court issued its decision. Malami responded to the decision on Friday by saying, “I told you the case is still in court. We will follow the court’s order, but we also have the right to explain to the court the advantages of the policy.”
Malami explained that: “If you see the negative side of it, you have to see the positive sides.
“If these governors told the court the hardships been experienced as a result of the policy, there are also some problems that the policy is solving.
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“I gave you example of insecurity. Immediately this policy was introduced, the rampant kidnapping has drastically reduced.
Malami added: “It also reduced rate of corruption, therefore we have right to go and explain to court these positive sides.
“The court gave order without listening to government side but it fixed 15 February to hear from the government.”
According to Malami: “Everybody knows part of the reasons Nigerians elected President Muhammadu Buhari is to fight corruption, insecurity and boost economy.
“The policy was introduced considering these and we will ask court to look at both sides of it.”
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