Dismiss Suit Challenging Deadline For Old Naira Notes, FG Tells Supreme Court

Posted by Nwa Diokpa Featured, Latest Headlines, News Across Nigeria Thursday, February 9th, 2023

(AFRICAN EXAMINER) – The federal government has tasked the supreme court to reject a suit filed by three states contending the February 10 deadline set by the Central Bank of Nigeria (CBN) to end the use of old naira notes.

In a preliminary objection filed on Wednesday through his lawyers, Mahmud Magaji and Tijanni Gazali, the attorney-general of the federation (AGF) stated that the supreme court doesn’t have the jurisdiction to get involved in the matter.

The AGF argued that “the plaintiffs have equally not shown reasonable cause of action against the defendant”.

The African Examiner recalls that earlier on Wednesday, a seven-member panel of the apex court led by John Okoro ruled in favour of a suit filed by Kaduna, Kogi, and Zamfara asking the federal government to stop from implementing the February 10 deadline for the use of the old naira notes.

The apex court had temporarily restrained the federal government from banning the old naira notes, until the determination of the suit.

However, in opposition to the suit, the AGF argued that the suit ought to have been instituted before a federal high court and not the supreme court as done by the plaintiffs.

“The plaintiffs’ suit is about the power vested on the Central Bank of Nigeria by the Central Bank of Nigeria Act, 2007 to call in its banknotes and introduce new ones,” the notice reads.

“This suit as presently constituted falls under section 251(1)(a)(p)(q) & (r) of the Constitution (exclusive jurisdiction of the Federal High Court) by virtue of the subject matter and parties.

“The instant suit is an abuse of the judicial process. That it is in the interest of justice to strike out this suit. That the plaintiffs will not be prejudiced if this preliminary objection is upheld.

“The plaintiffs have no grievance whatsoever against the Federation of Nigeria. This suit has disclosed no dispute that invokes this court’s original jurisdiction as constitutionally defined.

“This suit is an abuse of the judicial process. The plaintiffs have no locus standi to institute this action. The plaintiffs have no reasonable cause of action against the defendant.”