Femi Falana (SAN), interim chairman of the Alliance on Surviving COVID-19 and Beyond (ASCAB), outlined yesterday why CBN must abide by the Supreme Court order as the debate over the status of today’s deadline on cash swap policy continues in light of the injunction granted by the Supreme Court on Wednesday and the Federal Government’s objection to the order.
Falana said in a statement that it was necessary for him to come out since there have been rumors that CBN has chosen not to abide by the rulings of the supreme court.
The Senior Advocate claims that such an action would be nothing more than a blatant disdain for the law.
Considering the legal arguments that the CBN management is clinging to in order to disobey the court decision, the legal expert provided arguments for why CBN would not disobey the Supreme Court, citing examples that provide a more comprehensive picture of the actual situation.
The fact that CBN is not a party to the Supreme Court case is cited as the rationale for the arrogant disdain for the rule of law, he said. It is important to remind the CBN management that the High Court of the Federal Capital Territory issued an injunction prohibiting the State Security Services from detaining, investigating, and prosecuting Emefiele for financing terrorism in the case of Incorporated Trustees of the Forum for Accountability and Good Leadership v. Attorney-General of the Federation & Ors. (Suit No: FCT/HC/GAR/CV/41/2022). Emefiele has not been detained as a result of the court ruling, despite the fact that he was not a party to the lawsuit.
Emefiele’s brazen scorn for the Supreme Court’s ex parte therefore represents the pinnacle of power hubris. We are obligated to call the Central Bank Management’s attention to the case of Attorney-General of Lagos State v. Attorney-General of the Federation (2005) 2 WRN 1 at 109, in which the late Tobi JSC, of blessed memory, issued the following warning to all authorities and individuals in Nigeria: