Emefiele and Buhari

Again, 10 states drag Buhari, CBN to Supreme Court over new naira notes policy

10 states have dragged the President Muhammadu Buhari led government and the Central Bank of Nigeria, CBN to Supreme Court over the redesigned currency policy.

The 10 states persuaded the apex court to declare the disobedience shown by the president to the order of the court as unconstitutional.

They revealed that the national broadcast made by the president directing the apex bank to consider only the old N200 notes as legal tender until April 10, 2023 as unconstitutional.

They identified that the position of the president was in contradiction to the ruling of the apex court of the country, which declared the old naira notes as legal tender, pending the determination of the law suit.

The fresh legal action taken by the states against the FG and the CBN were championed by the attorney generals of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states.

The Informant247 understands that 2 states, Edo and Bayelsa were defendants, as they were on the side of the FG and the CBN.

The application reads: “An order setting aside the directive contained in the special and presidential media Broadcast delivered on Thursday, the 16th of February, 2023 by the president of the federal republic of Nigeria (the substantive 1st defendant in this suit) for being an unconstitutional overreach and usurpation of the judicial power of this court on a matter constituting the subject matter of the pending suit herein; and in respect whereof there subsists an order of interim injunction binding on all parties inclusive of the president who is a party through the named nominal defendant in person of the 1st defendant as the chief legal officer of the federation.”

“Contrary to the order of the honourable court, the substantive 1st defendant through the president of the federation, and its agent, the Central Bank of Nigeria, have repeatedly released statements that the old Naira Notes are no longer legal tender, hence resulting in misleading the general public on what the status quo to be complied with, pendente lite, should be,” the statement partly reads.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *