Following total compliance by the Central Bank of Nigeria (CBN) with the Supreme Court order of 3rd March this year on the Naira redesign policy, Olubadan of Ibadanland, Oba Sen. Lekan Balogun on Tuesday commended the Federal Government for the development described as the best in the interest of the poor masses.
It would be recalled that President Muhammadu Buhari had on Monday distanced himself from the reluctance of the CBN Governor, Godwin Emefiele to implement the Supreme Court judgment on the ground that he (PMB) had not spoken wondering why would his directive be waited for before judgment of the highest court of the land be implemented?
Immediately after the President made his stand on the matter known, the CBN instantly made a release through its Acting Director of Corporate Communications, Isa Abdulmumin declaring old N200, N500 and N1000 notes as legal tender till 31st December this year as directed by the Supreme Court, a decision that brought great relief to the populace.
Reacting to the development through a statement made available to journalists in Ibadan by his Personal Assistant (Media), Oladele Ogunsola, Oba Balogun said the compliance by the CBN would go a long way to douse the mounting tension in the land occasioned by the cash crunch.
Recalling the hardship faced by the populace and over which he had at a point called on the government to ease the tension and people’s pains, the monarch said the compliance with the court judgment was a personal relief to him, adding, “I knew what people passed through and the kind of pressure I received during the period.
“I also commend our people for bearing with the government while the problem lasted. As noted in one of my statements, our people proved their resilience and perseverance and as I said, with patience and understanding, the government would do the proper thing which was what has happened now.
“What we have just gone through as a nation should be a lesson, both to the leaders and the led. While the leaders must always think through any policy before it is made, the people must also exercise restraint in reacting to government policy, especially when such is seemed to be at variance with our expectations. In all, I salute our judiciary for saving the situation, it remains truly the hope of common man”, Oba Balogun added.
