General
SERAP Seeks Order to Upturn Buhari’s Directive on Old Naira Notes
By Adedapo Adesanya
A suit has been filed against President Muhammadu Buhari by the Socio-Economic Rights and Accountability Project (SERAP) over “the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 notes remain legal tender.”
Joined in the suit as defendants are the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, and the Central Bank of Nigeria (CBN).
The Supreme Court, in a case brought by 10 states, held that the old banknotes remain legal tender pending the determination of a motion on notice fixed for February 22. The deadline for the swap of the old notes expired on February 10.
However, Mr Buhari, in a national broadcast last week, directed the CBN to recirculate only the old N200 banknotes, overruling the Supreme Court and banning the use of old N500 and N1,000 notes in the country.
In the suit number FHC/ABJ/CS/233/2023 filed last Friday at the Federal High Court, Abuja SERAP is asking the court to determine “whether President Buhari’s directive banning the N500 and N1,000 banknotes is not inconsistent and incompatible with the constitutional duties to obey decisions of the Supreme Court and oath of office.”
SERAP is asking the court for “a declaration that President Buhari’s directive banning the use of old N500 and N1,000 banknotes is a fundamental breach of section 287(1) of the Nigerian Constitution 1999 [as amended] and his constitutional oath of office, and therefore unconstitutional, unlawful, null and void.”
SERAP is seeking “an order of interim injunction restraining President Buhari, the CBN, and Mr Malami, their agents or privies from further enforcing the presidential directive banning the old N500 and N1,000 banknotes, pending the hearing and determination of the motion on notice filed contemporaneously in this suit.”
In the suit, SERAP is arguing that: “Upholding the rule of law is the cornerstone of Nigeria’s constitutional democracy. President Buhari and other public officials and authorities have a binding legal responsibility to strictly comply with the rule of law and obey the decisions by the Supreme Court and all other courts.”
SERAP is also arguing that, “The directive to ban the use of N500 and N1000 banknotes, contrary to the interim injunction by the Supreme Court, is ultra vires – beyond the constitutional and legitimate powers of President Buhari and the government.”
The suit filed on behalf of SERAP by its lawyers Mr Ebun-Olu Adegboruwa (SAN), and Mr Kolawole Oluwadare, pointed out that, “President Buhari’s directive undermines the authority and independence of the judiciary, which is an underlying constitutional principle intended to ensure that government is conducted according to law, and to prevent the arbitrary exercise of powers or discretion by public officials and authorities.”
“The rule of law makes all government officials, including the President and other officials, answerable for their acts in the ordinary courts. The law must apply to everybody; nobody is above the law.”
“Section 281(1) of the Nigerian Constitution provides that, ‘the decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court.”
“Under 318 (1) of the Nigerian Constitution, ‘decision’ means in relation to a court, any determination of that court and includes judgement decree, order, conviction, sentence or recommendation.”
“It is the duty of the government to allow the law to take its course or allow the legal and judicial process to run its full course.”
“The directive by President Buhari to ban the use of the old N500 and N1000 banknotes can have no other interpretation than the show of intention to pre-empt the final decision of the Supreme Court in this case.”
“The courts expect the utmost respect of the law from the government itself, which rules by the law,” a part of the suit stated.
SERAP wants an order restraining and stopping the CBN from carrying out and giving effect to the directive of the President directing and approving that the old N500 and N1,000 banknotes are no longer legal tender, and the old N200 banknote will cease to be legal tender on 10 April 2023, in compliance with the order of the Supreme Court of Nigeria made on 8 February, 2023 in Suit Number SC/CV/162/2023– Attorney General of Kaduna State & 2 Ors v. Attorney General of the Federation.”
It also wants an “order mandating the CBN to direct all commercial banks in Nigeria to accept and give out the old N200, N500, and N1,000 banknotes as legal tender concurrently along with the new banknotes of the same denomination in line with the order of the Supreme Court of Nigeria made on 8 February, 2023 in Suit Number SC/CV/162/2023 – Attorney General of Kaduna State & 2 Ors v. Attorney General of the Federation;
General
Middle East Crisis: AfDB, Others Task Africa on Long‑term Structural Reforms
By Dipo Olowookere
The need for Africa to protect itself from many external shocks not of its making has again been emphasised by the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the UN Economic Commission for Africa (UNECA).
On the margins of the 58th session of the Economic Commission for Africa in Tangier, Morocco, the continent was tasked to strengthen regional integration, accelerate African-led financial solutions, and invest decisively in energy, food, and trade resilience so as to move from vulnerability to preparedness.
The meeting focused on the spikes in energy, food and fertiliser prices caused by the ongoing conflict in the Middle East.
The United States and Israel launched airstrikes on Iran in February 2026, and since then, global oil prices have surged by more than 50 per cent as of late March. Twenty-nine currencies in Africa have weakened, raising the cost of servicing external debt and importing food, fuel, and fertiliser.
Disruptions linked to Gulf energy supplies limit access to ammonia and urea during the critical March–May planting season. This will affect agricultural production, compounding risks of crisis and emergency levels of food insecurity, especially for low‑income households and import‑dependent economies.
To address these issues, the quartet has asked African leaders to, in the short-term, stabilise fuel, food, and fertiliser supply, and execute medium‑term reforms to strengthen energy security, targeted social protection, and regional trade under the African Continental Free Trade Area (AfCFTA).
They also tasked leaders to come up with long‑term structural reforms towards stronger domestic resource mobilisation and African financial safety nets, including accelerated implementation of the African Financing Stability Mechanism.
“Continued escalation of the conflict worsens global instability, with serious implications for energy markets, food security, and economic resilience, particularly in Africa, where economic pressures remain acute,” the chairperson of AUC, Mr Mahmoud Ali Youssouf, said.
Also commenting, the UN Under-Secretary-General and Executive Secretary of UNECA, Mr Claver Gatete, said, “Africa has been hit by too many external shocks not of its making. Crises like this reinforce why Africa must finance more of its own future and strengthen regional solutions that build resilience before the next shock hits.”
On her part, the UN Assistant Secretary‑General and Director of UNDP’s Regional Bureau for Africa, Ms Ahunna Eziakonwa, submitted that, “With the right mix of policy choices, financing tools, and political resolve, Africa can weather this shock and emerge more resilient, more self-reliant, and better positioned to shape its own economic future.”
“As global crises multiply, Africa’s response must evolve from managing shocks to fostering resilience. African institutions and development partners need to act swiftly and in concert, leveraging their comparative advantages to cushion short-term shocks while laying the foundations for long-term resilience,” the president of AfDB, Mr Sidi Ould Tah, stated.
General
Oyetola Sets Accountability Bar for Maritime Agencies
By Adedapo Adesanya
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has issued a strong warning to heads of agencies under the ministry, demanding strict accountability and measurable results.
Mr Oyetola issued the warning during the signing of performance bonds with heads of maritime agencies at the Ministerial Management Retreat, held alongside the 2026 first-quarter stakeholders’ engagement in Lagos on Thursday, where he emphasised the need for performance-driven governance.
“Let me emphasise that all Departments and Agencies under the Ministry must remain firmly focused on delivering tangible results,” he said.
In a statement by Mr Bolaji Akinola, Special Adviser to the Minister, Mr Oyetola noted that performance bonds to be signed during the retreat are binding commitments that will be closely monitored and rigorously evaluated.
“These are not ceremonial documents. They are binding commitments. Accountability will not be optional,” the Minister declared.
Mr Oyetola reiterated the need for data-driven decision-making, robust monitoring and evaluation frameworks, and alignment with the Ministry’s strategic objectives.
“At the institutional level, we must remain disciplined and accountable. Every department and agency must deliver measurable outcomes,” he added.
He explained that the retreat was designed to foster alignment between policy formulation, implementation, and stakeholder expectations.
“The integration of this engagement enables us to listen, reflect, and recalibrate,” he said.
The agencies include the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Shippers’ Council (NSC), National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria, and the Council for the Regulation of Freight Forwarding in Nigeria.
He also announced a 160 per cent increase in revenue generated by agencies under the ministry, attributing the growth to sweeping reforms and a renewed focus on accountability.
“In 2023, our agencies generated N700.79 billion. By the end of 2025, this figure had risen to approximately N1.83 trillion. This remarkable achievement is the result of deliberate and sustained reforms,” he stated.
The Minister explained that the gains were driven by strengthened regulatory oversight, improved revenue assurance mechanisms, digitalisation of key processes, and a firm commitment to blocking leakages.
“This gathering reflects our commitment to a governance approach that is inclusive, transparent, and results-driven,” he added, noting that the convergence of stakeholders, policymakers, and institutional leaders was designed to align policy with implementation and public expectations.
Mr Oyetola linked the ministry’s improved performance to broader sectoral reforms, including port modernisation, approval for disbursement of the Cabotage Vessel Financing Fund (CVFF), and ongoing efforts to enhance indigenous participation in maritime activities.
General
Presidency Explains Reason Tinubu Met Jos Attack Victims at Airport
By Modupe Gbadeyanka
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, has explained why Mr Bola Tinubu addressed the victims of the Plateau attacks at the airport on Thursday evening.
The decision of President Tinubu to console victims of the attacks, which left over 20 persons dead, at the Yakubu Gowon Airport in Jos last night has continued to generate reactions.
He was criticised for not visiting the victims at the epicentre, Angwan Rukuba, instead of having them to travel to meet with him at the airport.
In a statement on Friday, Mr Onanuga said his principal’s itinerary for yesterday included two main engagements: receiving the Chadian President, Mahamat Idriss Déby Itno, and proceeding to Iperu, Ogun State.
“After Governor Caleb Mutfwang’s briefing, President Tinubu suspended the trip to Ogun. Overnight, the Presidential Villa made arrangements for the visit to Jos, with presidential assets quickly deployed. However, the President could not postpone the scheduled visit by the Chadian leader.
“The President of Chad was at the Presidential Villa for a very important bilateral meeting focused on strengthening security collaboration between the two countries. The meeting ran longer than expected, affecting President Tinubu’s scheduled departure for Jos.
“Upon arrival in Jos, the visit encountered some logistical challenges. While the road distance from the airport to Jos township is approximately 40 minutes, the runway does not support night flights due to the absence of navigational aids. The constraints made it unfeasible to drive into town, meet victims for on-the-spot assessment and return to the airport before dusk.
“Consequently, state and federal officials decided to bring representatives of the affected community to a hall adjoining the airport so the President could meet with them promptly while adhering to flight restrictions. Among the people in the hall were the Minister of Defence, the Chief of Army Staff and the Inspector General of Police, who had visited Rukuba, the epicentre of the conflict. President Tinubu deployed the high-level team to Rukuba, including the Senior Special Assistant on Community Engagement, to undertake critical groundwork on security and community engagement, with a view to stabilising the area before his arrival.
“Beyond expressing his condolences to the victims, President Tinubu’s objective was to engage with critical stakeholders in Plateau State on ending the recurring, decades-old conflict that has resulted in needless loss of lives and property.
“President Tinubu’s visit to Jos was not merely symbolic. It was a strategic, high-level engagement aimed at bringing all stakeholders together to address the root causes of conflict and insecurity in the state.
“He interacted with the victims, consoled them, and listened to them. He also listened to local leaders and assured them that the federal government would deliver justice and end the cycle of violence. He promised the deployment of 5000 AI-enabled cameras to monitor the city and enhance the identification and arrest of troublemakers.
“Furthermore, the President invited the community leaders to Abuja for further talks on finding a lasting solution to the recurring violence in the state.
“The meeting, televised live, was solemn and reassuring, boosting residents’ confidence. President Tinubu achieved the purpose of his visit, despite the naysayers’ attempts to ridicule it. He dropped an unmistakable message: sustainable peace must be built with the people, not imposed on them,” the presidency explained.
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