Suspense Stretches as Supreme Court fixes judgement for March 3 on cash swap

Voice Air Media News Update

The Supreme Court has fixed the 3rd of next month, for judgement in the suit filed by three states against the federal government over the naira swap policy.

Justice Inyang Okoro of the court fixed the date after taking arguments from counsels in the matter.

The government of Kaduna, Kogi and Zamfara states dragged the Attorney-General of the federation and the Central Bank of Nigeria, CBN, before the apex court over the policy.

Also, during the proceedings, the court said it will resist being used as a scapegoat due to the old naira notes case brought before.

The apex court was reacting to a plea from the Attorney General of Lagos State, Moyosore Onigbanjo, against the Attorney General of the Federation, Abubakar Malami.

Onigbanjo accused Malami of acting in contempt of initial court orders, thereby, asking Justice Inyang Okoro to prohibit the Attorney General of the Federation from representing the Federal Government that was sued by 10 state governments over the handling of the deadline to phase out the old Naira notes.

At the last adjourned date, more states joined as plaintiffs in the matter and the apex court made an order stopping the FG to from going ahead with the policy.

On the 8th of this month, the Supreme Court stopped the CBN from giving effect to the deadline on the use of old notes after an ex parte application was brought by the three states.

In the suit before the apex court, the states argued that the implementation of the policy had caused untold hardship on residents.

The AGF, who is the sole respondent, had also filed a preliminary objection to the suit, arguing that the supreme court lacks the jurisdiction to entertain the matter.