The Supreme Court will today deliver judgement in the suit by 16 states challenging the federal government’s naira redesign and swap policy.
A seven-member panel of justices presided by Justice Inyang Okoro had on February 22 adjourned to March 3 for judgment after consolidating the suits filed by the various states and taking arguments in the matter.
The 16 states, whose suits were consolidated as co-plaintiffs alongside Kaduna, Kogi and Zamfara are arguing that the old naira notes of N200, N500, and N1000 must remain legal tenders pending the determination of the substantive suit.
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Other states in the league are Katsina, Lagos, Ondo, Ogun, Ekiti, Cross River, Sokoto, Jigawa, Rivers, Kano, Niger, Nasarawa, and Abia states.
Bayelsa and Edo states filed as co-defendants in support of the federal government’s monetary policy and objection against the jurisdiction of the apex court to hear the suits.
