The lingering dispute between the Federal Government and some states in the country over the Naira redesign policy will be rested by the Supreme Court on March 3.
A seven-man panel of the apex court presided by Justice John Okoro announced the date for judgment shortly after taking all arguments for and against the policy on February 22.
Three states: Kaduna, Kogi and Zamfara had initially sued the federal government over the implementation of the naira policy over the hardship they claimed the policy has brought upon the citizenry.
In addition, they had obtained an interim order of the apex court on February 8 restraining the federal government from banning the use of the old N200, N500 and N1000 bank notes pending the hearing and determination of their interlocutory applications.
While nine states had joined the case last week, six others were added at Wednesday’s proceedings bringing it to a total of 16 plaintiffs with two states of Bayelsa and Edo taking the side of the federal government.
Apart from deciding the fate of the naira, the apex court would also decide the plaintiff’s application seeking to commit the AGF, Mr. Abubakar Malami, and the CBN Governor, Mr. Godwin Emefiele to court for alleged disobedience of the court order.
The plaintiffs had accused them of not giving effect to the interim order of the apex court issued on February 8, directing the government not to ban the use of the old banknotes from February 10, 2023, until the court resumed hearing on the matter on February 15.
The Plaintiffs also dragged President Muhammadu Buhari before the apex court over his directive of February 16 wherein he directed the CBN governor to recall only the N200 banknotes, maintaining that the N500 and N1000 banknotes remain banned and Nigerians still in possession of the old notes should it take to the CBN for deposit.
