JUST IN: Buhari meets Emefiele, Tambuwal, others over scarcity of Naira notes

Presumably part of the moves to restore normalcy in the nation’s cash distribution chain, President Muhammadu Buhari has met with the leadership of the Nigerian Governors Forum (NGF) and other stakeholders at the Presidential Villa, Abuja.

There were feelers on Tuesday morning that the President had scheduled to meet with Governors from across the country but at about noon when the meeting was expected to commence, only Sokoto Governor and Chairman of the NGF, Aminu Tambuwal and Kebbi Governor Atiku Bagudu, who is also Chairman of the Progressive Governors Forum (PGF) were sighted.

Others who joined the meeting were the Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele; the Chief of Defense Staff (CDS) General Lucky Irabor; and the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.

The presence of the CBN Governor however indicated the meeting was organised ostensibly to discuss the cash swap policy which has elicited public outcry, particularly from the Governors.

Read Also: Court restrains CBN, Buhari from tampering with Feb 10 cash swap deadline
The Nation gathered that the President put off the initial meeting scheduled with all the Governors as a result of a court order restraining the government from extending the February 10, 2023 deadline for cash swap.

A Federal Capital Territory (FCT) High Court on Monday stopped the CBN from extending the use of the old naira note beyond February 10, 2023.

The suit marked FCT/HC/CV/2234/2023, listed the CBN, President Buhari and a number of banks as defendants in the suit.

The presiding judge, Eleojo Enenche, ordered the CBN not to extend the deadline pending the determination of the suit.

The court held “an order of interim injunction is hereby made restraining the defendants whether by themselves, staff agents, officers, interfacing banks or whosoever not to suspend, stop, extend, vary or interfere with the extant termination date of use of the old N200, N500, and N1000 bank note being 10th day of February 2023, pending the hearing and determination of the motion on notice.”

None of the participants of the meeting agreed to speak to the media.