UPDATED: Supreme Court adjourns hearing of substantive suit on CBN’s Naira redesign, cash swap policy

*The Supreme Court of Nigeria adjourns the substantive case on the Naira redesign and cash swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing of the consolidated suits by 10 states of the Federation

Alexander Davis | ConsumerConnect

The Supreme Court of Nigeria has adjourned the case on the Naira redesign and cash swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing of the ‘consolidated suits’ by 10 states of the Federation

The apex appellate court in the country, which heard the case Wednesday, February 15, 2023, was filled to capacity with a retinue of Senior Advocates of Nigeria (SANs), other lawyers and the Governors Nasir El-Rufai and Yahaya Bello of Kaduna and Kogi states  respectively.

It is recalled that at the last hearing, the apex appellate court February 8 had temporarily suspended the implementation of the February 10 deadline of the CBN from making the old N200, N500 and N1,000 notes a legal tender in Nigeria.

The Zamfara, Kogi and Kaduna states had instituted the suit against the Federal Government and the CBN.

Other states, namely Niger, Kano, Ondo, Ekiti, have also applied to be joined in the suit against the CBN and the Federal Government.

Court proceedings then, began with Justice John Okoro leading a seven-man panel.

The Justice said the court should not lose sight of the case, and its intention as it affects the suffering of Nigerian consumers.

ConsumerConnect reports Mr. Moyosore Onigbanjo,  Lagos State Attorney General and Commissioner for Justice, also applied for the state to be joined in the suit.

Bayelsa State, led by Damian Dodo, as well sought to be joined in the suit as a respondent. Similarly, Edo State applied to be joined as a respondent in the lawsuit.