Supreme Court adjourns suit on old Naira notes

Abuja – NIGERIA: The Supreme Court has adjourned the suit filed by governors to challenge the naira redesign policy of the Central Bank of Nigeria (CBN) to Wednesday 22, 2023.

In a ruling a moment ago, a nine-member panel, led by Justice John Okoro, joined the Attorneys General of Katsina, Lagos, Ondo, Ogun, Ekiti, Cross River and Sokoto States as co-plaintiffs, while the Attorneys General of Edo and Bayelsa states were joined as co-respondents.

The court ordered the original plaintiffs and the respondent – the Attorney General of the Federation (AGF) – to amend the processes already filed to reflect the new parties.

In a motion ex parte filed before the supreme court, Kaduna, Kogi, and Zamfara represented by Abdulhakeem Mustapha, had prayed the court to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1,000 notes will cease to be legal tender.

On February 8, the court restrained the apex bank from giving effect to the February 10 deadline.

The federal government has also filed a preliminary objection to the suit, arguing that the supreme court lacks the requisite jurisdiction to entertain the matter.

The government is represented in court by Kanu Agabi, a former minister of justice and attorney general of the federation.

Nasir el-Rufia and Yahaya Bello, governors of Kaduna and Kogi were present at the supreme court for the hearing.