Economy

Supreme Court Takes Another Crucial Decision in Case Against CBN’s New Naira Policy

Published

2 years ago

February 15, 2023

FCT, Abuja – Emerging reports has confirmed that Supreme Court has on Wednesday, February 15 adjourned the case over the CBN policy on naira swap.

As reported by Channels TV, the apex court adjourned proceedings until Wednesday, February 22.

Recall that at the previous court session, the Supreme Court gave a ruling against the stipulated deadline for the usage of the naira note communicated by the CBN to the public.

The apex court mandate that the collection old notes should remain valid temporarily until a proper resolution was reached.

The CBN on the other hand did not heed to the ruling of the apex court as it went on to implement and enforce its stipulations declaring the old naira notes illegal.

At the recent court ruling earlier, the courtroom had the presence of top political jogganuts present for the hearing.

As reported by the Vanguard newspaper, Kaduna State Governor, Nasir El-Rufai, and his Kogi State counterpart, Yahaya Bello were present at the court premises for the hearing.

Edujandon.com gathered that the federal government and CBN are facing legal battles at all fronts as states like Kaduna, Zamfara and Kogi had already filed a suit against the implementation of the new naira policy.

Similarly, states like Ekiti, Ondo, Kano and Nigeria also followed in the trend of filling a joint suit against the federal government and CBN.

Meanwhile the Lagos state government led by its Attorney General, Moyosore Onigbanjo, and the Bayelsa State government led by Damian Dodo have also resorted to filing an application to join the suit.