Confusion As Supreme Court Adjourns Suit On Use Of Old Naira Notes

Confusion As Supreme Court Adjourns Suit On Use Of Old Naira Notes

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, February 22.

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.

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 River and Sokoto – joining as co-plaintiffs to the suit by Kaduna State together.

Contempt of court

Mustapha drew the panel’s attention to the federal government’s alleged flouting of the order of the court last week by the non-compliance to the extension of the use of the old naira notes.

But Agabi objected, arguing that the claim is based on “rumours out there.”

The panel said the issue cannot be attended to immediately until all the processes are filed and served.

But Mustapha insisted that the federal government is acting in executive recklessness by going ahead to ignore the order.

He therefore insisted that the extension should subsist.

The panel advised that the processes be filed and served on Friday and replies done on Monday to enable hearing on Wednesday.

Emmanuel Ukala (SAN) sought to move a separate application by the Rivers State Government.