Supreme Court Fixes March 3 For New Naira Notes Judgement
The Supreme Court on Wednesday adjourned judgement in the new naira policy suit to March 3, 2023.
With this recent decision, Nigerians looking up to the apex court for a favorable judgment (today) that they expect will ameliorate their suffering, will have to be patient.
The Supreme Court had on February 8 stopped the Federal Government from implementing the February 10 deadline for swapping the old naira notes with new ones, but the Central Bank of Nigeria refused to shift the deadline.
The injunction was sequel to a suit filed by Zamfara, Kogi and Kaduna state governments against the Attorney-General of the Federation on February 3.
Other states like Lagos, Ondo, Ekiti, Kano, Sokoto, Ogun and Cross River have also joined the suit as co-plaintiffs.
While taking arguments on Wednesday, counsel for the Federal Government, Kanu Agabi, stated that the Supreme Court maintained that all reliefs are rooted in section 20 of the CBN Act.
He contended that the plaintiffs did not deem it fit to take the CBN to court as a respondent despite making reference to the apex bank 32 times in their originating summons and despite the fact that seven of the reliefs sought relate to the CBN.
He added that that Nigerians were already turning down the old notes way the President’s directive.
Agabi also said that by asking Nigerians to deposit their old naira at the CBN designated centres, the president was abiding by the court order and that Buhari is empowered under the constitution to veto any legislation.
