The Kano state government has filed a suit against the
federal government over the naira redesign by the Central Bank of Nigeria
(CBN).
The suit marked SC/CS/200/2023, was filed before the supreme
court on Thursday.
The state’s attorney-general, through his lawyer, Sunusi
Musa, is arguing that President Muhammadu Buhari cannot direct the CBN to recall
the old N200, N500 and N1,000 banknotes without first consulting the federal
executive council and the national economic council.
Kano is seeking an order of the court mandating the federal
government to reverse the policy to recall the old N200, N500 and N1,000 notes
from circulation.
The state submits that the policy affects the economic
well-being of over 20 million Kano residents.
The state is also seeking an order to compel the federal
government to reverse the naira redesign policy, alleging that it violates the
1999 constitution.
“A Declaration that the combined reading of the provisions
of the section 148(2) of 1999 constitution and Part 1, and Paragraph 19 of the
Third Schedule thereof, the President cannot unilaterally without recourse to
the Federal Executive Council and National Economic Council respectively give
approval to the Central Bank of Nigeria for the implementation of cash
withdrawal limit pursuant to the demonetization economic policy of the Federal
Government of Nigeria,” the suit reads.
The plaintiff is further praying the court for a declaration
that the president’s directive to the CBN for the implementation of the new
cash withdrawal limits policy pursuant to the demonetisation of Federal
Republic of Nigeria without recourse to FEC and NEC respectively is
“unconstitutional, illegal, null and void”.
The suit by the Kano state government is coming days after
Kaduna, Kogi, and Zamfara filed a legal action against FG to stop the full
implementation of the policy.
The supreme court, while ruling on an ex parte application
by the three northern states, temporarily restrained the federal government
from banning the use of the old naira notes from February 10, 2023.
However, the federal government has filed a preliminary
objection to the suit arguing that the court lacks the requisite jurisdiction
to entertain the matter.
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