February 10, (THEWILL) – The Kano State Government has filed a suit before the Supreme Court against the Federal Government of Nigeria, in respect of the Naira redesign policy of the Central Bank of Nigeria (CBN).
In a suit numbered SC/CS/200/2023, the Kano State Attorney General, through his Counsel, Sunusi Musa (SAN), asked the Apex court to declare that the President of Nigeria cannot unilaterally direct the Central Bank of Nigeria to recall the new N200, N500 and N500 old notes without recourse to the Federal Executive Council and National Economic Council, respectively.
The suit is praying the court to direct the Federal Government to recall the redesigned naira notes.
It also seeks a mandatory order to compel the Federal Government to reverse the Naira Redesign Policy, alleging that it violates the 1999 Constitution.
Additionally, the Kano Government is asking the Supreme Court to mandate the Federal Government to reverse the cash swap policy, claiming that it does not comply with the 1999 Constitution and other relevant legislation.
“A Declaration that on the combined reading of the provisions of Section 148(2) of the 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 read.
In the originating summon, the Kano State Government further prayed for a declaration that the president’s directive to the CBN for the implementation of cash withdrawal limits policy pursuant to the demonetisation of the Federal Republic of Nigeria without recourse to FEC and NEC respectively is unconstitutional, illegal, null and void.
The applicant is also praying for a mandatory order reversing the policy of the Federal Government on the recall of old currency notes for alleged failure to comply with the provisions of the Constitution and other extant legislation.
