Kano State Government has filed a suit before the Supreme Court against the Federal Government of Nigeria in respect of Naira redesign policy of the Central Bank of Nigeria (CBN).
In a Suit Number: 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 Bank notes without recourse to the Federal Executive Council and National Economic Council, respectively.
Kano state Government prayed a mandatory order seeking for a reversal of the Federal Government policy to recall the N200, N500 and N1,000 notes from circulation, for affecting the economic wellbeing of over 20 million of its citizens.
The Applicant also sought mandatory order, compelling the Federal Government to reverse the Naira redesign policy for alleged failure to comply with 1999 (as amended) constitution of the Federal Republic of Nigeria.
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Similarly, the Applicant prayed for mandatory seeking the Apex court to compel the Federal Government of Nigeria to reverse the cash swap policy for allegedly not complying with the 1999 constitution of the FRN and other extant legislation.
“A Declaration that the combine reading of the provisions of the section 148(2) of 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.”
In Originating summon, the Kano State Government further prayed for a declaration, that the President directive to the CBN for the implementation of cash withdrawal limits policy pursuant to the demonetization of Federal Republic of Nigeria without recourse to the Federal Executive Council and National Economic Council 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 the old currency notes for allegedly failure to comply with the provisions of Constitution and other extant legislation.
