Kaduna, Kogi, Zamfara, Ondo governors have dragged the federal government to the Supreme Court over the naira redesign policy of the Central Bank of Nigeria.
The Supreme Court has issued an-exparte order restraining the Federal government and CBN from enforcing the Friday, February 10 deadline for outdating the old news as legal tender, the Federal government in a counter attempt has approached the apex court to vacate the order.
In a Suit Number: SC/CS/200/2023, filed Thursday evening and slighted by The Guardian, the Kano State Attorney General, through his Counsel, Sunusi Musa (SAN) is seeking the Apex court to declare that the President of Nigeria, cannot unilaterally direct the Central Bank of Nigeria to recall the now N200, N500 and N500 old Bank notes without recourse to the Federal Executive Council and National Economic Council, respectively.
Applicant is also seeking for mandatory order, compelling the Federal Government of Nigeria to reverse the Naira redesign policy for alleged failure to comply with 1999 (as amended) constitution of the Federal Republic of Nigeria.
The Kano state Government is praying a mandatory order seeking for a reversal of the Federal Government policy to recall the N200, N500 and N1,000 notes from circulation, for affecting the economic well-being of over 20 million of Kano citizens.
Reacting to the hardship this policy has brought on Nigerians, Veteran journalist Babajide Kolade-Otitoju said the governors are mpoving beyond
whether the CBN has the power based on the law to Institute reforms,
to come up with monetary policies. This is not the point the governors are making.
BKO stated that he has not seen a policy that has inflicted so much pain on Nigerians as much as this policy has done.
According to him, the policy in itself is not a bad one but the implementation of it is what is very bad.
He added that Edo state governor, Godwin Obaseki should be talking about the pains inflicted on Nigerians rather than what he came out to say being a person with knowledge of business and economy.
‘Obaseki should be talking about the pains inflicted on the people, no one is saying don’t redesign the naira even though there is no real redesign but if any policy will push Nigerians to tears, cause the death of Nigerians, if any policy will inflict agony on Nigerians, it is only an inhumane and wicked Governor that will not see anything wrong about that policy, and not be concerned about how to put an end to the mystery that our people are going through”.
“Some have gone to court over the issue, looking for a way to ease the pains of Nigerians.
“This policy cannot cannot stamp out vote buying, unfortunately, it is the average Nigerian that is suffering.