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Saturday, July 13, 2024

BREAKING NEWS: Supreme Court adjourns judgement Naira – Supreme Court fixes March 3 for judgement

The Supreme Court on Wednesday adjourned judgement in the new naira policy suit to March 3, 2023. With the apex court’s decision, Nigerians, especially consumer and business groups as well as professional and trade unions looking up to the apex court for a favourable judgment (today) that they expect will ameliorate their suffering, will have to wait. The Supreme Court had on February 8 restrained the Federal Government from implementing the February 10 deadline for swapping the old naira notes with new ones, but the Central Bank of Nigeria refused to shift the deadline.

The injunction was a sequel to a suit filed by 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 also joined the suit as co-plaintiffs. While taking arguments on Wednesday, counsel for the Federal Government, Kanu Agabi, said the Supreme Court held that all reliefs are rooted in section 20 of the CBN Act. He argued that the apex court has no jurisdiction to hear the suit as the action cannot commence with an Originating Summons.

He also contended that the plaintiffs did not deem it fit to the CBN to court as a respondent despite making reference to the apex bank 32 times in their originating summons and despite the fact that seven of the reliefs sought to relate to the CBN. He asserted that Nigerians were already turning down the old notes way the President’s directive. Agabi also asserted that by asking Nigerians to deposit their old naira at the CBN designated centres, the president was abiding by the court order and that Buhari is empowered under the constitution to veto any legislation.

Disclaimer: 

The designations employed in this publication and the presentation of materials herein do not imply the expression of any opinion whatsoever of the Publisher (Nze Ikay’s Blog) or its employees concerning the legal status of any country, its authority, area or territory or concerning the delimitation of its frontiers. Equally, the sketches, images, pictures and videos are gotten from the public domain.

NzeIkay
NzeIkayhttps://nzeikayblog.com
Nigeria is an Enigma. The capacity to gain an accurate and deep understanding of her is undoubtedly God’s endowment to us, her citizens. As a citizen of this lovely nation, I’ve spent decades of my life trying to understand this, Mirage. Hope someday, this Mystery that houses about 250 million blacks will be globally understood, widely accepted, and given the opportunity to play its vital role in the world stage. So, help us God! #NigeriaDeservesBetter #AfricaDeservesBetter

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