Kola Oyelere
Kano State Government, in respect of the Naira redesign policy of the Central Bank of Nigeria (CBN), has filed a suit against the Federal Government of Nigeria at the Supreme Court on its implementation.
According to a suit number: SC/CS/200/2023, the Kano State Attorney General, through his Counsel, Sanusi Musa (SAN) is seeking the Apex court to declare that the President of Nigeria, cannot unilaterally direct the Central Bank of Nigeria to recall the now N200, N500 and N500 old Bank notes without recourse to the Federal Executive Council and National Economic Council, respectively.
It will be recalled that on Wednesday the Supreme Court gave an interim order to the Central Bank of Nigeria (CBN) not to end the use of old naira notes on 10 February in an exparte application by the three applicant states include: Kaduna, Kogi and Zamfara.
In the suit, the Kano State Government is praying a mandatory order seeking a reversal of the Federal Government policy to recall the N200, N500 and N1,000 notes from circulation, for affecting the economic well-being of over 20 million Kano citizens.
The Applicant is also seeking for mandatory order, compelling the Federal Government of Nigeria to reverse the Naira redesign policy for alleged failure to comply with the 1999 (as amended) constitution of the FRN.
The Applicant is similarly praying for mandatory seeking the Apex court to compel FGN to reverse the cash swap policy for allegedly not complying with the 1999 constitution of the FRN and other extant legislation.
“A Declaration that the combined reading of the provisions of section 148(2) of the 1999 constitution and Part 1, and Paragraph 19 of the Third Schedule thereof, the President cannot unilaterally without recourse to the Federal Executive Council and National Economic Council respectively give approval to the Central Bank of Nigeria for the implementation of cash withdrawal limit under the demonetization economic policy of the Federal Government of Nigeria,”
In Originating summon the Kano State Government, further prayed for a declaration, that the President’s directive to the CBN for the implementation of cash withdrawal limits policy under the demonetization of the Federal Republic of Nigeria without recourse to the Federal Executive Council and National Economic Council respectively is unconstitutional, illegal null and void.
The Applicant is also praying for a mandatory order reversing the policy of the Federal Government on the recall of the old currency notes for alleged failure to comply with the provisions of the Constitution and other extant legislation.
