The Federal Government of Nigeria on Wednesday, through the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), approached the Supreme Court, in reply to the apex court ruling restraining the Federal Government and the CBN from going on to implement the February 10 deadline for the currency swap.
A seven-member panel of the court, led by Justice John Okoro
granted an order of interim injunction halting the plan by CBN to end the use of the old banknotes as scheduled.
The court then adjourned the hearing of the main case until February 15.
Meanwhile, Malami is pleading with the apex court to dismiss the suit challenging the February 10 deadline set by CBN to end the legal tender status of the old currency notes of N200, N500 and N1,000.
Malami, in his plea, argued that the Supreme Court lacks jurisdiction to hear the suit filed by three All Progressives Congress (APC) governors of Kaduna, Kogi and Zamfara States.
According to Malami, the currency swap issue is not a dispute between the federation and the state governments, adding that it’s about CBN’s policy affairs.
The AGF explained that the suit doesn’t require a Supreme Court for adjudication stressing that the apex court doesn’t qualify to hear the matter.
He argued that the suit ought to have commenced at the Federal High Court.
The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), was joined in the suit as the sole defendant, as the three State Governors.
Three state governors are challenging the Naira redesign policy, asking the court to stop CBN from ending the use of the old notes on February 10.
According to them, the policy has brought untold hardship on the Nigerian masses due to scarcity of the new notes.