Naira policy: Read full details of what will happen at the Supreme Court today, February 22

  • The swapping of the old naira notes for the new ones continues to cause friction between some Nigerian governors and the Federal Government
  • In a recent move, the governors filed a contempt of court suit against the FG, represented by President Buhari, and the CBN
  • The governors alleged that the duo disobeyed the court’s order on the extension of the deadline for the implementation of the new naira policy

The Supreme Court of Nigeria will, on Wednesday, February 22, resume hearing on the old naira deadline suit between governors of various states across the country and President Muhammadu Buhari.

The Punch reports that Nigerians, business owners and trade unions are expecting a favourable judgement which will alleviate the sufferings experienced by citizens since the implementation of the new naira policy by the Central Bank of Nigeria.

President Muhammadu Buhari, Nasir El-Rufai, governors
The Supreme Court will resume hearing on the suit filed against the FG by governors on the new naira policy.
Photo; Bashir Ahmad, Yahaya Bello, Kaduna governor
Source: Twitter

Some governors led by their Kaduna state counterpart, Nasir El-Rufai, had approached the apex court challenging the Federal Government’s and the CBN’s refusal to extend the February 10 deadline for swapping the old N200, N500 and N1,000 notes for the new ones.

Read also

Breaking: More tension over naira redesign as El-Rufai, others file fresh suit against Malami, Emefiele

The Supreme Court, following their suit, issued an order restraining the FG from implementing the deadline, however, President Buhari and the CBN disobeyed the order.

States involved in the suit against FG, CBN

Some states in the suit include Zamfara, Kogi and Kaduna state governments against the Attorney-General of the Federation on February 3.

Other states, including Lagos, Ondo, Ekiti, Kano, Sokoto, Ogun and Cross River, have joined the suit as co-plaintiffs.

The other states joined as a party to the suits after the president, in an early morning broadcast on February 16, announced that the deadline stands while the old N200 was re-introduced into the system.

Following this, many Nigerians have taken to the streets to protest the difficulty of accessing the new notes or even the old N200 from their banks or Automated Teller Machines, with crisis erupting in Ogun, Lagos, Delta and several other states.

Read also

New naira policy: Full list emerges as Sokoto, 9 other APC states take fresh legal action against Buhari, CBN

Banks have also not been left out as the protesters have focused on destroying and setting ablaze property belonging to financial institutions and security agencies like the police.

With the case coming up at the Supreme Court today, the governors have also filed a contempt of court suit against the CBN governor, Godwin Emefiele and the FG.

Naira policy: “Buhari’s order against Supreme Court could lead to chaos, anarchy,” Ozekhome raises alarm

President Muhammadu Buhari had earlier been accused of exhibiting tendencies of a military tyrant in a democratic dispensation.

The allegation was made by a Senior Advocate of Nigeria, Mike Ozekhome, on Friday, February 17.

Ozekhome condemned the president’s order countering a Supreme Court’s ruling on the new naira redesign policy.

Naira scarcity: Another Top APC governor joins El-Rufai, Ganduje, kicks against Buhari, Emefiele’s policy

The Lagos state government had joined some other state governors to condemn the new naira redesign policy of the Central Bank of Nigeria led by Godwin Emefiele.

Read also

List of governors who have asked residents to continue spending old Naira notes

The Lagos State Attorney-General and Commissioner for Justice, Moyosore Onigbanjo (SAN), said rejecting the old notes contradicts the Supreme Court’s stand.

Onigbanjo condemned President Muhammadu Buhari’s February 16 broadcast message, which approved that only the old N200 notes remain legal tender.


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