The Federal Government of President Muhammadu Buhari has petitioned the Supreme Court to reject a complaint filed by three northern state governments challenging the Central Bank of Nigeria’s (CBN) deadline to discontinue the legal tender status of old naira notes.
In a preliminary objection, the government maintained that the Supreme Court lacked authority to hear the case through the Attorney-General of the Federation (AGF), Abubakar Malami.
The AGF, represented by Mahmud Magaji and Tijanni Gazali, urged the Supreme Court to dismiss the case for lack of jurisdiction.
Court Stops CBN From Extending Deadline On Use Of Old Naira Notes
In court files dated February 8, 2023, the AGF claims that “the plaintiffs have likewise failed to demonstrate a valid cause of action against the defendant.”
The AGF stated in support of the objection, citing Section 251 of the Constitution, that the dispute falls within the exclusive jurisdiction of the Federal High Court in questions of monetary policy of a Federal Government agency.
Malami said: “The claims or reliefs are not against the federation, but the Federal Government and its agency, the Central Bank of Nigeria.
“The Federal Government of Nigeria is distinct from the Federation or the Federal Republic of Nigeria. The plaintiffs have no grievance whatsoever against the Federation of Nigeria.
“This suit has disclosed no dispute that invokes this (Supreme) Court’s original jurisdiction as constitutionally defined.”
New Naira Notes: Commercial Banks Shut Down As Hardship Bites Harder
Remember that on February 3rd, the state governments of Kaduna, Kogi, and Zamfara sued the Federal Government in the Supreme Court over the CBN’s naira redesign policy.
The states petitioned the Supreme Court to order Buhari, the CBN, and commercial banks to withdraw the February 10 deadline for the use of the old N200, N500, and N1,000 banknotes as lawful cash in Nigeria.
The Supreme Court, in a decision issued on Wednesday, ordered the Federal Government to freeze the execution of the currency redesign strategy pending the outcome of the substantive litigation.
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