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Naira Deadline: El-Rufai, Matawalle, Bello take CBN, Buhari regime to Supreme Court

Governor Nasir El-Rufai of Kaduna, Yahaya Bello of Kogi, and Bello Matawalle of Zamfara have filed an ex parte motion before the Supreme Court petition.Information Guide Nigeria

The three governors have filed a temporary restraining order to stop President Muhammadu Buhari’s regime and the Central Bank of Nigeria from continuing the implementation of the new naira redesign policy.

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This was accompanied by a request for an expedited hearing, seeking a declaration that the demonetisation policy is in violation of the extant provisions of the Central Bank of Nigeria Act, 2007, the Nigerian Constitution, and relevant laws.

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The governors requested the court to declare that the three-month notice issued by the CBN with authorisation of Mr Buhari is in flagrant violation of Section 20(3) of the CBN Act 2007, which states that reasonable notice must be given before the older versions of the denominations will lose their legal tender status.

According to PEOPLES GAZETTE, the attorneys general of the three northern states are the motion’s plaintiffs, and Abubakar Malami, the justice minister, is the only respondent.

The plaintiffs claimed that the latest extension of the deadline for submitting old notes was insufficient, citing a severe shortage of new notes in Kaduna, Kogi, and Zamfara.JAMB Result

PEOPLES GAZETTE reports that the governors are also requesting a declaration from the court that, in light of the plain stipulations of Section 20(3) of the CBN Act 2007, the federal government, acting through the CBN, lacks the authority to set a deadline for accepting and redeeming banknotes issued by the Bank, with the exception of the circumstances described in Section 22(1) of the CBN Act 2007.NYSC portal

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Check and Confirm: How much is Dollar to Naira

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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