States divided as Supreme Court adjourns suits on old naira
The Supreme Court has adjourned suits filed to challenge and defend the naira redesign policy of the Central Bank of Nigeria (CBN) to Wednesday, February 22. While some state governments led by Kaduna State Government are challenging the deadline for old notes to cease to be legal tender, the federal government joined by Edo and […]
The Supreme Court has adjourned suits filed to challenge and defend the naira redesign policy of the Central Bank of Nigeria (CBN) to Wednesday, February 22.
While some state governments led by Kaduna State Government are challenging the deadline for old notes to cease to be legal tender, the federal government joined by Edo and Bayelsa states are in defence of the apex bank.
The CBN had originally fixed January 31 as deadline for old notes to be in circulation but extended it in response to pressure from Nigerians.
However, before the February 10 deadline, Kogi, Kaduna and Zamfara States approached the Supreme Court, seeking that the CBN be restrained from going ahead with the deadline.
Ogun governor threatens to shut down Banks rejecting old notes
Banks ignore Supreme Court, reject old notes
The court had directed the CBN to rescind its decision pending the hearing of the suit On February 15, but apex court insisted on the deadline, saying on Tuesday that there was no need for another extension.
At the hearing on Wednesday, a seven-man panel presided by Justice Inyang Okoro advised all the state governments represented in the court to follow and abide by the decision to be reached in the motion filed by the Kaduna State Government.
Other states with separate motions on the issue are: Kogi, Zamfara, Niger, Ondo, Ogun.
Abdulhakeem Mustapha (SAN) announced appearance for Kaduna State Government, while Damian Dodo (SAN) represented Bayelsa State, seeking to be joined in the matter as co-defendant. He said the application was filed last Friday.
Edo State also joined as co-defendant with the federal government.
Kanu Agabi and Mahmud Magaji (both SANs) announced appearance for the federal government.
Sam Ologun-Orisa (SAN), representing Katsina was delegated by the court to move on behalf of the states seeking to be joined as co-plaintiffs, while Dodo was asked to move on behalf of states seeking to be joined as co-defendants in the matter.
He moved the application supported by 7 paragraphs and affidavits
The panel ordered the amendment of processes to group states – Katsina, Lagos, Ondo, Ogun, Ekiti, Cross Rivers and Sokoto – joining as co-plaintiffs to the suit by Kaduna State together.
The panel fixed all the suits for hearing on Wednesday, February 22.