Currency Swap: Counter Directive Of APC Governors Treasonable, says group

The Centre for Reform and Public Advocacy has described as treasonable, the counter directives given by Governors of the All Progressives Congress (APC) on the naira policy.

In his national broadcast on Thursday, Buhari declared that N1000 and N500 old notes were no longer legal tender.

But at least four APC governors countered him and asked residents to continue spending the money until the Supreme Court rules otherwise.

In a statement, the CSO said it aligns itself with the position of Prof. Chidi Anselm Odinkalu, a human rights lawyers, and others who asserted that the APC governors committed Treason against Nigeria’s sovereignty.

“Nigeria, being a sovereign nation, has the 1999 Constitution of the Federal Republic of Nigeria (as amended) as its grundnorm, specifying in clear and unambiguous terms how Nigeria should be governed.

“The 1999 Constitution assigns different roles to the three tiers of government, namely: the Federal Government, State Government, and the Local Government.

“By the express provision of Section 4(2) of the 1999 Constitution, the National Assembly shall have power to make laws for the peace, order and good government of the Federation or any part thereof with respect to any matter included in the Exclusive list set out in Part 1 of the Second Schedule to the Constitution, while Section 5(1)(a-b) of the Constitution donates the Executive Powers to the President and the President shall exercise the laws made by the National Assembly and shall extend his powers to the execution and maintenance of the Constitution, all laws made by the National Assembly and to all matters with which the National Assembly has power to make laws.

“To make the powers of the President clearer, Section 130(1) of the Constitution provides thus: “There shall be for the Federation a President” and Section 130(2) provides that “The President shall be the Head of State, the Chief Executive of the Federation and the Commander-in-Chief of the Armed Forces of the Federation”.

“Having set the background, let us take a cursory look at paragraphs 6 and 15 of Part 1 of the Second Schedule to the 1999 Constitution, which are items in the Exclusive list and as has been demonstrated above, it is the President, not the State Governors, that has the exclusive powers to execute items in the Exclusive list.

“The items in paragraph 6 of the Exclusive are banks, banking bills of exchange, and promissory notes, while the items in paragraph 15 of the Exclusive list are: Currency, Coinage and Legal Tender.
It is also very clear from the above cited provisions of the Constitution that it is incumbent upon the President to execute all other laws enacted by the National Assembly and in this case, the Central Bank of Nigeria Act (CBN Act).

“Section 17 of the CBN Act provides that “The Bank shall have the sole right of issuing currency notes and coins throughout Nigeria and neither the Federal Government nor any State Government, Local Government, other person or authority shall issue currency notes, bank notes or coins or any documents or token payable to bearer on demand being document or token which are likely to pass as legal tender,” the group said in a statement signed by Kalu Kalu Agu, its Legal Adviser.

The statement added that it was clear without any equivocation that it is the CBN that has the responsibility and power to issue a Legal Tender for Nigeria and to redesign any denomination of the Legal Tender, fixing of deadline for cessation of validity of any Legal Tender under the directive of the President pursuant to sections 19()(1b) and 20(3) of the CBN Act.

“The contrary directives issued by the APC GOVERNORS that the old Naira Notes should continue to be a Legal Tender in their various states when the President had through the CBN issued a directive in that respect are treasonable.”

“The APC GOVERNORS cannot hide under the IMMUNITY CLAUSE as enshrined under section 308 of the 1999 Constitution to be engaging in treasonable activities against the Sovereignty of this nation.

“Consequently, the APC GOVERNORS should know that times do not run out against any crime committed against the Federation. As a Civil Society Organisation, we respectfully call on the security agencies in the country and all international organisations including foreign embassies to take notice of all the treasonable activities of the APC GOVERNORS instigating the citizens of this country through their unguided and inciteful speeches to take up arms against the Federation.

“They should be held responsible for all the crises that broke out as a result of their inciteful pronouncements against the policy of NAIRA REDESIGN, which has occasioned wanton destruction of lives and properties across the country.”