Friday, June 9, 2023

BREAKING: Supreme Court Adjourns New Naira Suit Judgement

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The Supreme Court on Wednesday adjourned judgement in the new naira policy suit to March 3, 2023.

The suit was filed by state governors, against the federal government’s decision to swap the naira, without making the notes available to ordinary Nigerians.

The plaintiffs in the suit are the Attorneys General (AGs) of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Sokoto, and Lagos states while the defendants are the Attorney General of the Federation, Abubakar Malami (SAN), as well as the AGs of Bayelsa and Edo states.

READ ALSO: Even As Governor, I Don’t Have New Naira Notes, Says Adeleke

At the last hearing on February 15, seven states joined the three initial states as co-plaintiffs, while Edo and Bayelsa states joined the Federal Government as co-defendants.

Already, the lawyers of both parties have arrived in court and Nigerians expect a major and definitive decision by the apex court.

READ ALSO: New Naira: Atiku, Emefiele Targeted Tinubu With Policy, Lawmaker Alleges

The Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court, after a suit filed by the states, held that the Federal Government, the CBN, commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue on February 22.

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Photo Credit: Getty 

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