The ten States that filed a suit against the Naira Swap Police, have filed a consolidated suit, asking the Supreme Court to declare the directive of President Muhammadu Buhari on the naira swap policy as unconstitutional, and an usurpation of the Judicial powers of the Court.
President Buhari, had on Thursday in a Media Broadcast, directed the Central Bank of Nigeria (CBN) to recirculate only the old N200 notes.
This is in spite of the ruling of the apex court which held that old N200, N500, and N1000 notes are still legal tender.
In a 12 Grounds of Application dated 17th February, 2023, the State Governments says the Federal Government and the CBN, have repeatedly released statements that the old naira notes are no longer legal tenders, hence, misleading the general public on what the status quo ought to be.
They add that the flouting of the order of the court, has placed the public in an embarrassing dilemma as to which directive should be complied with between the supreme court and the counter directive of the Federal Government
citing section 232(1), Section 6(6), (b) and section 287(1) of the 1999 Constitution as amended, which includes the protection of the Supreme Court’s dignity and ensure compliance with it’s orders by all persons and authorities.
The State Governments further hold that it was pertinent that the application is granted to restore the faith and confidence of all, and to further stop confusion as obligations to the extant orders of the court by all.
