As the scarcity of old and new naira notes bites harder, the Governors of Kaduna, Kogi, and Zamfara states have sued the Federal Government, seeking an order from the Supreme Court restraining the FG and the Central Bank of Nigeria (CBN) from implementing the naira redesign policy.
The governors are seeking an order from the Supreme Court restraining the FG and the Central Bank of Nigeria (CBN) from implementing the naira redesign policy.
The three states which filed the action through their Attorneys-General averred that both the old and the new Naira notes are scarce, thereby affecting people, especially the poor.
The Plaintiffs in the suit are the three Attorneys-General and Commissioners for Justice while the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) is the sole Respondent.
The states are urging the Supreme Court to grant them an interim injunction, stopping the Federal Government either by itself or acting through the CBN, the commercial banks, or its agents from carrying out its plan of ending the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the Naira may no longer be legal tender on February 10, 2023.
