Naira Policy: 10 States to File Contempt Suit Against FG, CBN

Some State Governments are planning to file a contempt suit against the Federal Government and the Central Bank of Nigeria (CBN) concerning the recently introduced naira policy.

The States insisted their offenses were non-compliance with the supreme court judgement on the naira redesign policy.

Recall that the Supreme Court had ruled that the old N200, N500, and N1,000 notes remain legal tender till the end of 2023, December 31.

Some banks hence began issuing the old notes to customers but the banks asked that customers fill out a form on the CBN portal before the old notes can be deposited.

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Also, some traders, motorists, and business owners had refused to accept the old naira notes, saying there was yet an official approval from the CBN or President Muhammadu Buhari.

Therefore, on Friday, the governments of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states served Abubakar Malami, Attorney-General of the Federation, the enrolled order and certified true copy (CTC) of the Supreme Court’s judgement.

Abdulhakeem Mustapha, counsel for Kaduna, Kogi, and Zamfara states, said that he expected immediate compliance with the judgment as the non-service of the documents had given the government and the CBN an escape route.

Mustapha said;

“The Attorney-General of the Federation has been served now and we will take it up from there; if there is no compliance now, we will commence committal proceedings against the attorney-general and the CBN governor.

“When the Supreme Court talks, the constitution makes it compulsory for all government representatives and everybody to comply with its order. It’s not discretional, you have to obey, it is the last and the final and that is why we have separation of power.

“The presence of separation of power is for checks and balances; when the Supreme Court talks, it must be complied with by all persons.”

Earlier, the Kogi government had threatened to arrest and prosecute persons and businesses rejecting the old naira notes.