22/02/2023
JUST IN: Nigeria Supreme Court adjourned Naira swap Suit to March frown at Buahri
The supreme court, on Wednesday led by Justice Inyang Okoro has fixed March 3 for Judgment challenging President Buhari led government Currency redesign currently been implemented through the Central Bank of Nigeria and kick against by 12 State of the federation and they are Kaduna, Kogi, Zamfara Lagos, Cross River, Abia Ogun, Ekiti, Ondo, Sokoto and President Buhari’s homestate, Katsina
Central Bank of Nigeria (CBN) with the full Support of President Buhari on October last year announced the removal of N1000 N500 N200 from circulation beginning from 31January 2023 which was later adjust further to February 10, an action Most APC governors frown at
Leading the rebel against President Buhari was the Governor of Kaduna State and later join by Zamfara and Kogi State initially institute the Case at the Country Apex Court.
The states are arguing that the implementation of the policy has caused untold hardship for Nigerians.Buhari had in a nationwide broadcast extended the validity of the old N200 notes till April 10.
The president, however, declared that the old N500 and N1000 notes had ceased to be legal tender contrary to the Supreme Court’s order which insisted that all the old notes remain valid pending the determination of the suit on February 22.
The development had led to violent protests in Lagos, Ogun Oyo and other parts of the country.
The Kaduna State Governor, Nasir El-Rufai, and his counterparts in Kano, Jigawa, Lagos, and Ogun had rejected the president’s directive and insisted the old naira notes remain legal tender until the apex court determines otherwise.
The supreme court, on Wednesday, said it would not allow the Federal Government and states of the federation to turn the Judiciary to a scapegoat in the legal dispute that is currently trailing the ban on use of the N200, N500 and N1000 banknotes as valid legal tenders.
