Kano State Government has filed a suit against the Federal Government at the Supreme Court over the naira redesign policy of the Central Bank of Nigeria (CBN).
The Kano State Attorney General, through his Counsel, Sunusi Musa (SAN), is asking the apex court to declare that the President Muhammadu Buhari cannot unilaterally direct the CBN to recall the old N200, N500 and N1,000 banknotes without recourse to the Federal Executive Council (FEC) and National Economic Council (NEC), respectively.
The state is seeking a mandatory order seeking a reversal of the Federal Government’s policy to recall the N200, N500 and N1,000 notes from circulation due to the policy affecting the economic well-being of over 20 million Kano citizens.
The applicant is also seeking for mandatory order, compelling the Federal Government to reverse the naira redesign policy for alleged failure to comply with 1999 Constitution (as amended).
Also, the Kano Stage Government is praying for a mandatory order from the apex court to compel the Federal Government to reverse the cash swap policy for allegedly not complying with the 1999 constitution and other extant legislation.
“A declaration that the combined 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,” it read.
Recall that the Supreme Court has on Wednesday gave an interim order to the CBN not to end the use of old naira notes on February 10, 2023, following an ex parte application by the governments of Kaduna, Kogi and Zamfara States.
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