The Supreme Court of Nigeria has said that its February 8 order for use of old Naira notes as legal tender subsists. The court made the de...
The Supreme Court of Nigeria has said that its February 8 order for use of old Naira notes as legal tender subsists.
The court made the declaration after Wednesday's hearing of the suit brought against the Federal Government by some states.
The apex court adjourned the case on the naira swap policy initiated by the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing of the consolidated suits by 10 states.
During resumed proceedings, the court room was filled to capacity with a high number of Senior Advocates of Nigeria, other lawyers and the governors of Kaduna and Kogi states, Nasir El-Rufai and Yahaya Bello, respectively.
The court joined Katsina, Lagos, Cross Rivers, Ogun, Ondo, Ekiti, and Sokoto States as co-plaintiffs in the suit challenging the Naira Redesign policy of the Federal Government.
The apex court also joined Edo and Bayelsa states in support of the Federal Government on implementation of the naira swap policy.
The various state governments had, through their attorneys general, applied to be joined in the suit.
The six states in their respective motions for joinder pitched their tents with the three aggrieved states, Kaduna, Zamfara, and Kogi states that initially ignited the suit, bringing their number to nine.
At the last hearing, the court had set aside the February 10 deadline for swapping of the old N200, N500 and N1,000 notes for new notes and their use as legal tender.
The Zamfara, Kogi and Kaduna states had instituted the suit against the Federal Government and the CBN.
Justice John Okoro leading a seven-man panel said the court should not lose sight of the case and its intention as it affects the suffering of Nigerians
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