THE Supreme Court has set February 22, as the new hearing date for lawsuits filed in support of and in opposition to the Central Bank of Nigeria’s (CBN) naira redesign policy.
The federal government, joined by the states of Edo and Bayelsa, are defending the apex bank while certain state governments, led by the Kaduna State Government, are contesting the date by which old notes will no longer be accepted as legal tender.
In response to criticism from Nigerians, the CBN extended the deadline for the use of old notes, which was initially set for January 31.
However, before the deadline of February 10, Kogi, Kaduna, and Zamfara states petitioned the Supreme Court to order the CBN to postpone the deadline.
The court had ordered the CBN to reverse its decision while the lawsuit was being heard on February 15 . However yesterday, the apex bank declared that there was no need for a further extension on the deadline.
A seven-member panel chaired by Justice Inyang Okoro during the hearing today directed all state governments present in court to respect and abide by the decision made in the motion submitted by the Kaduna State Government.
Other states that have different motions on the subject are Kogi, Zamfara, Niger, Ondo, and Ogun.
Damian Dodo (SAN) represented Bayelsa State and requested to be included as a co-defendant, while Abdulhakeem Mustapha (SAN) made an appearance on behalf of the Kaduna State Government. The application, he said, was submitted last Friday.
The federal government and Edo State both joined as co-defendants.
Both SANs Kanu Agabi and Mahmud Magaji declared their appearance on behalf of the federal government.
The court appointed Sam Ologun-Orisa (SAN), representing Katsina, to make a motion on behalf of the states wishing to join the case as co-plaintiffs, and Dodo was requested to make a motion on behalf of the states wishing to join the case as co-defendants.
He moved the application, which was supported by affidavits and seven paragraphs.
The panel ruled that the lawsuit filed by Kaduna State should be amended to include states Katsina, Lagos, Ondo, Ogun, Ekiti, Cross Rivers, and Sokoto as co-plaintiffs.
The panel then set February 22 as the hearing date for all of the lawsuits.
