Saturday, September 30, 2023

New Note: Supreme Court Joins Nine States On Naira Swap Suit

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The Supreme Court on Wednesday joined nine states as parties in the suit filed by Kaduna, Kogi and Zamfara challenging the naira swap deadline.

This is as the Governors Nasir El-Rufai and Yahaya Bello of Kaduna and Kogi respectively attended the court proceedings.

The Justice John Okoro-led nine-member panel joined the Attorneys General of Katsina, Cross River, Lagos, Ondo, Ogun, Ekiti and Sokoto States as co-plaintiffs.

READ ALSO: Naira Scarcity: Supreme Court Adjourns Hearing On Naira Crisis

The Attorneys General of Edo and Bayelsa states were joined as co-respondents.

The court ordered the original plaintiffs and the respondent – the Attorney General of the Federation – to amend the processes already filed to reflect the new parties.

KOKO TV reports that a seven-man panel of the Supreme Court last Wednesday in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the CBN’s February 10 deadline for the swapping of the old naira notes with the new ones.

READ ALSO: No Going Back On February 10 Old Naira Note Deadline – Emefiele Insists

The judgment followed a motion ex-parte on behalf of three northern states Kaduna, Kogi and Zamfara, who on February 3rd filed a suit seeking to halt the implementation of the CBN’s policy.

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Photo Credit: Getty 

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