By Bimbo Adenrele
A seven man panel of the Supreme Court presided by Justice John Okoro on Wednesday has adjourned issues generated by the naira policy of the federal government to March 3rd for judgment after hearing all arguments for and against the policy.
Three states of the federation, Kaduna, Kogi and Zamfara had initially sued the federal government over the implementation of the naira policy which according to them the policy has brought hardship upon the country.
In addition they had obtained an interim order of the Supreme Court restraining the federal government from banning the use of the old N200, N500 and N1000 notes pending the hearing and determination of their interlocutory applications.
In addition to the nine states which had joined the case last week, six more states were included at Wednesday’s proceedings bringing it to a total of 15 plaintiffs with two states Bayelsa and Edo taking the side of the federal government.
Furthermore, the apex court would also determine the Plaintiffs application seeking to charge the AGF, Mr Abubakar Malami, SAN and the CBN Governor, Mr Godwin Emefiele for alleged disobedience of court order.
The Plaintiffs had accused them of not giving effect to the interim order of the apex court issued on February 8, directing the government not to ban the use of the old banknotes effective from February 10th, 2023.
Plaintiffs also dragged President Muhammadu Buhari before the apex court over his directive issued on February 16th wherein the president directed the CBN governor to reissue only the N200 note, insisting that the N500 and N1000 banknotes cease to legal tender and Nigerians still in possession of the old notes should take to the CBN for deposit.
