Supreme Court Takes Final Decision On Old Naira Notes Validity Today (Live Updates)

Supreme Court will today take a final decision on the old Naira notes validity in Nigeria.

 

 

NewsOnline reports that the state governments of Kaduna, Kogi, and Zamfara had, on February 3rd, dragged the Federal Government to the Supreme Court over the naira redesign policy of the Central Bank of Nigeria (CBN).

 

The states urged the Supreme Court to compel President Muhammadu Buhari, the CBN, and commercial banks to rescind the February 10 deadline for the old N200, N500, and N1,000 banknotes as Nigeria’s legal tender

 

Ruling last week Wednesday, the Supreme Court ordered the Federal Government to halt the implementation of the currency redesign policy pending the determination of the substantive suit.

 

NewsOnline reported that the apex court, in a unanimous ruling, restrained the Federal Government, CBN, and commercial banks from implementing the deadline for the old 200, 500, and 1000 naira notes to stop being a legal tender.

 

The apex court also stopped the three defendants from continuing with the deadline pending the determination of a notice in respect of the issue.

 

NewsOnline Nigeria understands that the apex court is set to take a decision on old Naira notes validity today in FCT, Abuja.

Stick with Naija News for updates…

 

Supreme Court has adjourned the currency policy suits to Wednesday, February 22.

The panel fixed all the suits for hearing on Wednesday, February 22.

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A lawyer has also announced an appearance for Sokoto State as a party seeking to be joined in the suit

S.T. Ologun-Orisa (SAN) appeared for Katsina State Government, which has also filed an application to join the suit. Tanko Asha (SAN) for the Cross River State Government.

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While Tunde Babalola (SAN) for Ogun State is to join as co-plaintiff, as well as O.O. Olowolafe (SAN) for Ekiti State as the party is seeking to be joined and Charles Titiloye (SAN) Ondo State Attorney General

Further appearances in the motion by Kaduna State include; Moyosore Onigbanjo (SAN), the Attorney General of Lagos State, and Ahmed Raji (SAN), who announced appearance for Lagos.

Also, Kenneth Mozia, Emeka Etiaba, Echezona Etiaba, are all Senior Advocates of Nigeria, for the Edo State Government

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Abdulhakeem Mustapha (SAN) for Kaduna

Kanu Agabi and Mahmud Magaji, all Senior Advocates of Nigeria, announce appearance for the federal government.

Damian Dodo (SAN) announced appearance for Bayelsa State as party seeking to be joined in the matter

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In giving further direction, he advised all the state governments represented in the court to follow and abide by the decision to be reached in the motion filed by the Kaduna State Government.

Other states with separate motions on the issue are: Kogi, Zamfara, Niger, Ondo, Ogun

In his opening statement, the judge said, “Let us out our heads together and not lose sight of the suffering of our people. 

“It is not about who wins or who loses.”

The panel is presided by Justice Inyang Okoro

09:23 Governors Nasir El-Rufai and Yahaya Bello of Kaduna and Kogi States respectively have arrived at the Supreme Court for hearing.

 

8:56 Legal practitioners and Senior Advocate of Nigerians have stormed the Supreme court. Naija News reports that the apex court is filled to the brim.