WHEN COUNCIL OF STATE FAILS, By Gboyega Amoboye

Yoruba adage says ” “Agba ki wa l’oja ki Ori omo tuntun wo” meaning, things can never go wrong in the presence of elders. In the Bible for instance, decision by Reoboam son of Solomon to ignore the advice by elders on good governance led to the division of the Kingdom of Israel into two.

In polity , the Senate or House of Lord’s as applicable is meant to be a committee of the wise and therefore expected to be more tactful on sensitive national issues. The Council of State is even a more powerful mosqurade , that comes out rarely like a comet, strictly to find solutions to emergency national matters that threaten peace and stability . It could not have waited any longer when the country is at crossroads at the eve of a Presidential election.. That is why the Council is made up of former Heads of State or Presidents serving and, retired Chief Justices, former Senate Presidents etc as well as members of the incumbent government.

The Council of State Meeting of last week was called to solve a specific problem of shortage of new currency notes in circulation that is leading to anarchy and threatening the Presidential election due in two weeks.

Unfortunately the meeting ended in a manner that had made its call, unnecessary if all they could achieve is that the “CBN should print more new notes OR allow the old notes to be back in circulation” The ambivalent stand of the Council on the matter has worsened the crisis situation because where people had expected a relief, despire was given. The old notes are no longer accepted as exchange for goods and services just as frustrated people besieged banks daily threatening to kill bank workers and burn down more banks.

It is admitted that a ruling is pending before the Supreme Court which could have hindered the Council of State from taken a firm stand. If so why was the meeting called at all? I believe the meeting, despite that fear was as a matter of a stitch in time especially because of the Presidential election of February 25. If Asiwaju Bola Tinubu said the currency crisis was invented by a cabal to check mate his match to Aso Rock, Obidients should be expected to say the election was scuttled to prevent the victory of Obi. Already Labour Party has accused the APC of plotting to rig them out in Lagos. This is why the Council of State should have resolved the crisis in favour of the people because government is about the people “irrespective of the “sound economic reason” given by the CBN Governor and former APC Presidential aspirant, Emefiele. as well as without prejudice to what might be the rulling of the Supreme Court on the matter. The Council of State should have advised that old notes should be recognized as a legal tender pending it’s total withdrawal from circulation within a period of six months in the first instance. Afterwards present and past JSCs are members of the council and therefore would be part of the decision.

That being the case, the President, Muhammadu Buhari should have signed an Executive Order and broadcast to the nation the next morning if only to reinforce legitimacy and reassure forlorn Nigerians.

Now there are news and denials about shortage of money printing papers. There is a pending question about the whereabouts of N100 notes which is not affected by the new policy. The fact that it is neither available in banks nor in circulation gives credit to the allegation of scarcity of printing papers. Some bank workers have revealed that what is delivered to them by CBN instead of new notes are incinerator bound tattered N100. and 50k notes which they first have to cut and join before issuing them out to customers. That tattered notes are given as “change” at big time sales points including filling stations, which are rejecting old notes alresdy has also given credence to the allegation of shortage of printing papers.

The CBN should not give an impression that N100 note that carries the image of Chief Obafemi Awolowo, creator of the Naira is being phased out by first through coinage The socio- economic implications of doing so should be clear to policy makers more so that there’s a clash between the colour of the N100 and the new N 200 notes that carries the image of Sir Ahmadu Bello. Meanwhile Nigerians should pray for the safety of bank workers while baba Buhari should speak to the nation immediately.

The council of State needs not be told that it has failed the country by it’s ambivalence in the midst of National emergency. “”Ori omo titun ti wo o.”.