The Supreme Court yesterday adjourned February 22, the suit filed against the Central Bank of Nigeria (CBN) by some state governments to challenge the February 10 deadline to end the use of old naira notes.
The Court’s seven-member panel including Amina Augie, Adamu Jauro, Ibrahim Saulawa, Tijanni Abubakar, and Emmanuel Agim and led by John Okoro, adjourned the case and also said the old banknotes remain a legal tender pending the determination of the suit.
Recall that before the deadline, a ruling on an ex parte application brought by the three states — Kaduna, Kogi, and Zamfara, on February 8, the apex court restrained the CBN from executing the February 10 deadline on the use of old notes.
However, yesterday’s adjournment dashed the hopes of many Nigerians who were anticipating a definite pronouncement to address the federal government’s refusal to comply with its earlier order suspending the 10 February deadline.
About nine states were joined as parties either co-plaintiffs or co-defendants in the suit.
Despite the February 8 ruling, the CBN did not issue any directive on the extension of the deadline; rather it set out new guidelines for bank customers to approach the apex bank to deposit the old notes after meeting the criteria.
Besides, the government and the CBN said on Tuesday that they will make their positions known after the determination of the suit yesterday.
“We wish to state that it is not true that the federal government or the Central Bank of Nigeria, CBN have taken a pre-emptive action on the legality of currency as a legal tender in view of the pendency of the case before the Supreme Court,” the government said.
The government and the CBN had come under heavy criticisms for disobeying the Supreme Court ruling, amid heightened tension across the country following the rejection of the old N200, N500 and N1,000 banknotes by banks, shops and markets.
About nine states were joined as parties either co-plaintiffs or co-defendants in the suit
The new co-plaintiffs, who are in support of the suit and against the CBN policy, include Cross River, Sokoto, Lagos, Ogun, Katsina, Ondo, and Ekiti states.
However, two other states – Bayelsa and Edo – were joined as co-defendants on Wednesday, along with the Attorney-General of the Federation who was originally sued as the sole defendant in the suit.
