The Supreme Court of Nigeria in Abuja has adjourned for hearing of consolidated suits on Naira redesign policy till Wednesday, February 22, 2023.
This is after the apex court joined the Attorneys General of States, AGs, as co-plaintiffs in the suit challenging the Naira Redesign policy of the Federal Government, FG.
Katsina, Lagos, Cross Rivers, Ogun, Ondo, Ekiti, and Sokoto states have now filed their suits challenging the Federal Government and Central Bank of Nigeria, CBN, on the controversial Naira swap policy.
The states have now joined the three States of Northern extraction.
The various State Governments had through their AGs applied to be joined in the suit.
Three States of Northern extraction, namely, Kaduna, Kogi and Zamfara, had in a motion ex-parte filed on February 3rd, prayed the apex court to halt the CBN’s naira redesign policy.
Similarly, the apex court joined Bayelsa and Edo states as co-respondents in the matter.
Justice Inyang Okoro, leading a 7-man panel of Justices of the Supreme Court ordered the plaintiff to amend the originating process to reflect the co-plaintiffs joined in the suit.
Recall that the Supreme Court in a unanimous ruling on February 6, granted an interim injunction restraining the FG, CBN, commercial banks, etc, from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The court further held that the FG, CBN, commercial banks, etc must not continue with the deadline pending the determination of a notice in respect of the issue on February 15, which is today.
Meanwhile, pending hearing, the old order to suspend the ban of the now older N200, N500 and N1,000 subsists.