The Supreme Court on Friday ordered that old N200, N500, N1,000 notes remain in circulation till December 31, 2023.
The apex court also nullified the Federal Government’s naira redesign olicy, declaring it as an affront to the 1999 Constitution.
justice Emmanuel Agim, who read the lead judgement, held that the preliminary objections by the defendants (the Attorney General of the Federation, Bayelsa and Edo states) are dismissed as the court has the jurisdiction to entertain the suit.
Citing Section 23(2)1 of the constitution, the court held that the dispute between the federation and states, must involve law or facts.
The apex court further held that President Muhammadu Buhari in his broadcast, admitted that the policy is flawed with a lot of challenges.
The court said the policy has led to some people engaging in trade by barter in this modern age, in a bid to survive. The court added that the President’s disobedience of the February 8 order, is a sign of dictatorship.
Sixteen states of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy.
The suit initially instituted by Kaduna, Kogi and Zamfara states has been slated as the first case on the cause list for final verdict.
Justice John Inyang Okoro who led a seven-man panel of Justices of the Court had on February 22 fixed today for the court to make its decision known on the suit.
The 16 states led by Kaduna, Kogi and Zamfara are praying the apex court to void and set aside the policy on the ground that it is inflicting hardships on innocent Nigerians
They accused President Muhammadu Buhari of usurping the function of the Central Bank of Nigeria (CBN) in the introduction and implementation of the policy and asked that the directive issued by Buhari be voided.
On its part, the Federal Government challenged the jurisdiction of the Apex Court on the grounds that the CBN was not joined as a party and that the dispute on the policy ought to be directed at the CBN so that the suit can be referred to the Federal High Court.
Governor Nasir El-Rufai of Kaduna State and his Kogi State counterpart, Yahaya Bello were in court to witness the judgement on Friday. The two governors were also in court at the last hearing. Also, Zamfara State Governor, Bello Matawalle was in court on Friday.
Back Story
The Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court, after a suit filed by the states, held that the Federal Government, the CBN, commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue.
However, President Muhammadu Buhari, in a national broadcast last Thursday, directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days — by April 10, 2023. He also said old N500 and N1,000 banknotes cease to be legal tender in Nigeria.
There has been a flurry of reactions and stark criticisms against the President’s directive including from governors of his party, the All Progressives Congress (APC).
Governors Nasir El-Rufai (Kaduna), Abubakar Badaru (Jigawa), Rotimi Akeredolu (Ondo), Umar Ganduje (Kano); Speaker of the House of Representatives, Femi Gbajabiamila; Minister of State for Labour and Employment, Festus Keyamo; and many stalwarts of the ruling APC have openly censured and faulted the President’s directive, arguing that it has not grounds because the case is before the apex court.
Leading Senior Advocates of Nigeria like Femi Falana and Mike Ozekhome have equally faulted the President’s move, saying he cannot overrule the apex court of the land.
Also, three State Governors- Kaduna, Zamfara and Kogi have filed another suit against Malami, and the CBN Governor, Godwin Emefiele over contempt of court and their alleged failure to comply with the Supreme Court order on the old naira notes.
Source: channelstv
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Aw, this was an extremely nice post. Finding the time and actual effort to make a top notch article… but what can I say… I procrastinate a lot and never seem to get anything done.
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Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
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Right now it sounds like Movable Type is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Currently it seems like Drupal is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
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At this time it seems like Drupal is the top blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
At this time it seems like WordPress is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
May I just say what a comfort to discover someone that truly knows what they are talking about online. You certainly realize how to bring an issue to light and make it important. More and more people must read this and understand this side of the story. It’s surprising you aren’t more popular because you surely possess the gift.
Can I just say what a comfort to discover a person that genuinely knows what they are talking about over the internet. You definitely understand how to bring a problem to light and make it important. More and more people have to check this out and understand this side of your story. I can’t believe you are not more popular since you definitely have the gift.
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Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
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Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
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Can I simply say what a comfort to uncover somebody who truly knows what they are discussing on the web. You actually realize how to bring an issue to light and make it important. More and more people ought to read this and understand this side of the story. I was surprised you aren’t more popular since you definitely possess the gift.
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Aw, this was an extremely nice post. Taking a few minutes and actual effort to create a very good article… but what can I say… I hesitate a whole lot and never seem to get anything done.
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May I simply just say what a comfort to find someone who genuinely understands what they are talking about on the internet. You actually realize how to bring a problem to light and make it important. A lot more people need to check this out and understand this side of the story. I can’t believe you are not more popular because you most certainly have the gift.
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Hey there, You have done a great job. I will definitely digg it and individually suggest to my friends. I am confident they’ll be benefited from this website.
Currently it appears like BlogEngine is the preferred blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say great blog!
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Right now it appears like WordPress is the best blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Aw, this was an exceptionally nice post. Taking the time and actual effort to produce a superb article… but what can I say… I hesitate a lot and don’t manage to get anything done.
Currently it sounds like BlogEngine is the best blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Right now it appears like Drupal is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Hello there, You have performed an excellent job. I will certainly digg it and for my part suggest to my friends. I am sure they’ll be benefited from this site.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Aw, this was a very nice post. Finding the time and actual effort to produce a top notch article… but what can I say… I procrastinate a lot and never seem to get nearly anything done.
Wow that was strange. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say superb blog!
Hey there, You’ve done a great job. I’ll definitely digg it and personally suggest to my friends. I’m sure they’ll be benefited from this website.
Aw, this was an incredibly nice post. Spending some time and actual effort to create a very good article… but what can I say… I put things off a whole lot and don’t manage to get anything done.
May I simply say what a relief to discover a person that truly understands what they are discussing on the net. You certainly know how to bring a problem to light and make it important. A lot more people need to check this out and understand this side of the story. I was surprised that you aren’t more popular because you surely have the gift.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Currently it sounds like Drupal is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Hey there, You’ve done an incredible job. I’ll definitely digg it and in my opinion recommend to my friends. I am confident they will be benefited from this site.
Currently it seems like Movable Type is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Can I just say what a relief to find somebody that really knows what they are discussing on the net. You definitely know how to bring an issue to light and make it important. A lot more people really need to check this out and understand this side of your story. It’s surprising you are not more popular given that you surely have the gift.
Aw, this was an extremely nice post. Spending some time and actual effort to make a very good article… but what can I say… I hesitate a whole lot and never manage to get nearly anything done.
Currently it seems like Movable Type is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Currently it looks like Expression Engine is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Currently it appears like Drupal is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Excellent pieces. Keep posting such kind of info on your site. Im really impressed by your site.
Right now it sounds like Expression Engine is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Aw, this was an incredibly nice post. Finding the time and actual effort to make a very good article… but what can I say… I procrastinate a whole lot and don’t manage to get anything done.
Right now it seems like BlogEngine is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
May I simply say what a relief to uncover an individual who genuinely knows what they are discussing online. You certainly realize how to bring a problem to light and make it important. A lot more people must check this out and understand this side of the story. It’s surprising you aren’t more popular since you certainly possess the gift.
Currently it looks like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Aw, this was an incredibly nice post. Finding the time and actual effort to make a really good article… but what can I say… I put things off a lot and don’t manage to get nearly anything done.
Aw, this was a very nice post. Spending some time and actual effort to create a superb article… but what can I say… I put things off a lot and don’t seem to get nearly anything done.
Can I just say what a comfort to uncover someone who actually knows what they are talking about over the internet. You certainly realize how to bring an issue to light and make it important. A lot more people really need to check this out and understand this side of your story. I was surprised that you aren’t more popular given that you most certainly possess the gift.
Right now it appears like BlogEngine is the best blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was a really nice post. Taking a few minutes and actual effort to create a superb article… but what can I say… I procrastinate a whole lot and never seem to get anything done.
At this time it sounds like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Excellent post. Keep writing such kind of information on your blog. Im really impressed by your blog.
At this time it looks like Movable Type is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
May I simply just say what a comfort to uncover a person that actually understands what they’re talking about on the internet. You actually realize how to bring a problem to light and make it important. More and more people really need to look at this and understand this side of the story. I was surprised you aren’t more popular since you certainly possess the gift.
Excellent post. Keep posting such kind of information on your site. Im really impressed by your blog.
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Aw, this was an exceptionally nice post. Spending some time and actual effort to generate a top notch article… but what can I say… I put things off a whole lot and never seem to get nearly anything done.
Hi there, You’ve done an incredible job. I will certainly digg it and in my view recommend to my friends. I’m sure they’ll be benefited from this web site.
Hey there, You have performed a great job. I’ll definitely digg it and individually recommend to my friends. I’m confident they will be benefited from this website.
Hello there, You’ve performed a great job. I’ll certainly digg it and in my opinion suggest to my friends. I’m sure they will be benefited from this site.
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May I just say what a comfort to find an individual who actually knows what they’re talking about on the net. You certainly realize how to bring a problem to light and make it important. More and more people ought to read this and understand this side of your story. I can’t believe you’re not more popular given that you surely have the gift.
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say excellent blog!
Aw, this was an exceptionally nice post. Spending some time and actual effort to produce a really good article… but what can I say… I procrastinate a lot and never manage to get nearly anything done.
May I just say what a relief to find somebody who truly understands what they’re talking about online. You certainly realize how to bring an issue to light and make it important. More and more people really need to look at this and understand this side of the story. I was surprised you’re not more popular given that you definitely possess the gift.
Hello there, You have done an incredible job. I’ll definitely digg it and in my opinion suggest to my friends. I am confident they will be benefited from this site.
Excellent article. Keep posting such kind of info on your site. Im really impressed by your site.
Currently it seems like Drupal is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Currently it seems like Movable Type is the best blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Right now it appears like Drupal is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Currently it seems like WordPress is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say excellent blog!
Can I simply just say what a relief to uncover a person that genuinely knows what they’re talking about on the web. You definitely know how to bring an issue to light and make it important. A lot more people should read this and understand this side of the story. I can’t believe you’re not more popular since you most certainly possess the gift.
At this time it seems like Expression Engine is the best blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was a really nice post. Spending some time and actual effort to create a top notch article… but what can I say… I procrastinate a lot and never manage to get nearly anything done.
Hello there, You have performed an incredible job. I will certainly digg it and for my part suggest to my friends. I am confident they will be benefited from this web site.