NewStats: 3,264,061 , 8,182,469 topics. Date: Monday, 09 June 2025 at 01:45 PM 441b2r

Worried by the effects the Central Bank of Nigeria (CBN)’s naira redesign policy is having on the residents of their states, the governments of Kaduna, Kogi and Zamfara have dragged the Federal government before the Supreme Court, seeking a restraining order to stop the full implementation of the policy.

In a motion ex-parte filed on their behalf by their lawyer, AbdulHakeem Uthman Mustapha (SAN), the three northern states are urging the apex court to grant them an interim injunction stopping the Federal Government either by itself or acting through the CBN, the commercial banks or its agents from carrying out its plan of ending the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the Naira may no longer be legal tender on February 10, 2023.

The Plaintiffs in the suit are the three Attorneys-General and Commissioners of Justice of the three states, while the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), is the sole Respondent.

The Plaintiffs said that since the announcement of the new naira note policy, there has been an acute shortage in the supply of the new naira notes in Kaduna, Kogi and Zamfara States and that citizens who have dutifully deposited their old naira notes have increasingly found it difficult and sometimes next to impossible to access new naira notes to go about their daily activities.

They also cited the inadequacy of the notice coupled with the haphazard manner in which the exercise is being carried out and the attendant hardship same is wrecking on Nigerians, which has been well acknowledged even by the Federal Government of Nigeria itself.

The Plaintiffs further maintained that the ten-day extension by the Federal Government is still insufficient to address the challenges bedeviling the policy.

Recall that over the weekend, the CBN Governor at a press conference held in Lagos insisted that that the apex bank will not extend the deadline for swapping old naira notes with the newly redesigned ones.

In the suit filed at the apex court, the Plaintiffs have also filed a motion on notice to abridge the time within which the Respondent may file and serve his Counter-Affidavit to this Suit and an order for an accelerated hearing of this matter.

The states are seeking a declaration that the Demonetization Policy of the Federation being currently carried out by the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria is not in compliance with the extant provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended), Central Bank of Nigeria Act, 2007 and actual laws on the subject.

They are also asking the court to make a declaration that the three-month notice given by the Federal Government of Nigeria through the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria, the expiration of which will render the old Banknotes inissible as legal tender, is in gross violation of the provisions of Section 20(3) of the Central Bank of Nigeria Act 2007 which specifies that Reasonable Notice must be given before such a policy.

The Plaintiffs are also urging the court for a declaration that given the express provisions of Section 20(3) of the Central Bank of Nigeria Act 2007, the Federal Government of Nigeria, through the Central Bank of Nigeria, has no powers to issue a timeline for the acceptance and redeeming of banknotes issued by the Bank, except as limited by Section 22(1) of the CBN Act 2007. The Central Bank shall at all times redeem its bank notes.

The Plaintiffs further want the court to direct the immediate suspension of the demonetisation of the Federal Government of Nigeria through the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria until it complies with the relevant provisions of the law.

In an affidavit filed in of the suit and sworn to by the Attorney General and Commissioner for Justice, Kaduna State, Aisha Dikko, she averred that although the naira redesign policy was introduced to encourage the cashless policy of the Federal government, it is not all transactions that can be conveniently carried out through electronic means.

She maintained that several transactions still require cash in exchange for goods and services hence the need for the Federal Government to have sufficient money available in circulation for the smooth running of the economy.

Dikko also pointed out that the Federal Government has embarked on the policy within a narrow and unworkable time frame, and this has adversely affected Nigerian citizens within Kaduna, Kogi and Zamfara States as well as their Governments, especially as the newly redesigned naira notes are not available for use by the people as well as the State Governments.

“That the majority of the indigenes of the Plaintiffs’ states who reside in the rural areas have been unable to exchange or deposit their old naira notes as there are no banks in the rural areas where the majority of the population of the states reside.

“Most people in rural areas of the Plaintiffs’ states do not have bank s and have so far been unable to deposit their life savings which are still in the old naira notes.

“There is restiveness amongst the people in the various states because of the hardship being suffered by the people, and the situation will sooner than later degenerate into the breakdown of law and order.

“The Plaintiff State Governments cannot stand by as they are duty-bound to protect citizens in their states and prevent the breakdown of law and order.

“I know that if the Federal Government of Nigeria had given sufficient and reasonable time for the naira redesign policy, all the current hardship and loss being experienced by the Plaintiffs’ State Governments as well as people in the various states would have been avoided.

“I know that the 10-day extension by the Federal Government is still insufficient to address the challenges bedevilling the policy. I also understand that the Federal Government cannot bar Nigerians from redeeming their old naira notes at any time, even though the senior notes are no longer legal tender.

“Unless this Honourable Court intervenes, the Government and people of Kaduna, Kogi and Zamfara State will continue to go through a lot of hardship and would ultimately suffer great loss as a result of the insufficient and unreasonable time within which the Federal Government is embarking on the ongoing currency redesign policy,” she stated.

No date has been fixed for the hearing of the suit.

https://www.channelstv.com/2023/02/06/breaking-kaduna-kogi-zamfara-govts-drag-fg-to-supreme-court-over-naira-scarcity/

Desperate politicians stranded for cash to buy votes.

Thieves

Now I understand what Tinubu meant when he said he would fight dirty, but it will surely end in tears..

The billions he's hoarding will turn to wasted tissue papers in few days to come


The supreme court has a lot of pending case on ground to treat than this inconsequential issue..
Therefore the case would be adjourned till 31st Dec 2023 ..

The fact that this policy makes these people uncomfortable is all I need to it.

It is good sign...Bubu and Meffy must not back.
down

My question has been answered.

They want the Supreme court to suspend the policy until after hearing ... by then elections would have come and gone

Useless devilish party that cannot win elections without Bullion Vans.
.

zoedew:
Desperate politicians stranded for cash to buy votes.

If bandits could display millions of naira of the new notes, what's stopping the politicians who owns most of the banks?. Do you think Peter Obi, for example, who is a shareholder in Fidelity bank with access to billions of naira, gives a hoot about you queuing under the sun?.
I know that Obi ers are kind of happy that the harsh policy would push people to anger to vote against APC but I can assure you that this events. if not checked would further encourage vote buying. How would someone who struggles to get as little as 2000 naira all week reject free 5000 - 7000 free cash on an election day?

Good move, let the Court decides.

ASUU strike doesn't directly affects every Nigerians, same goes for fuel scarcity which was fluctuating. The Naira is choking business and means of livelihood.

You if don't have people you are feeding please don't quote me

Putindbutt:

If bandits could display millions of naira of the new notes, what's stopping the politicians who owns most of the banks?. Do you think Peter Obi, for example, who is a shareholder in Fidelity bank with access to billions of naira, gives a hoot about you queuing under the sun?.
I know that Obi ers are kind of happy that the harsh policy would push people to anger to vote against APC but I can assure you that this events. if not checked would further encourage vote buying. How would someone who struggles to get as little as 2000 naira all week reject free 5000 - 7000 free cash on an election day?

How many people u go bribe?

This is general election, not primaries..

Yes, politicians have access to New cash due to their connections , but not up to having the excess that could be used for vote buying across the country..
Upto 2 trillion Naira is not in circulation hence the need to redesign.. And central banks gave each bank a certain amount of new note...

Infact as it stands now, the new notes released so far is not up to 400 billion across the country , whereas some politicians have up to 200 billion Naira old cash each under their custody each...

Divide 400 billion into more 150 million Nigerians with bank s, then check how much will remain, then coupled with the fact that Nigerian political class is not upto 2% of Nig population

Again, how many people u go bribe, and where would they get the new notes from?

If they have access to the new notes as they supposed to as politicians they are, they won't be running helter skelter lamenting about new notes

Tinubu and APC have lost the General election woefully, no blackmailing will save them

Lol. Thieves!
ASUU was on strike for 8months, they didn't go to supreme court.
Fuel scarcity since November, they didn't go to court.
Bandits killed thousnds, they didn't go to court.
Naira crashed, they didn't go to court.
Debt profile hits the roof, they didn't go to court.

Now naira redesign that would reduce vote buying, they are runing helter scelter! God punish APC and their ers!

100 worshipers were slaughtered in owo, no governor petitioned the igp or the chief of defense staff. More recent, 41 and 27 persons were also killed in Katsina and nassarawa. Till now, no governor has even issued a statement.
Clearly this government lacks vector and magnitude

Putindbutt:

If bandits could display millions of naira of the new notes, what's stopping the politicians who owns most of the banks?. Do you think Peter Obi, for example, who is a shareholder in Fidelity bank with access to billions of naira, gives a hoot about you queuing under the sun?.
I know that Obi ers are kind of happy that the harsh policy would push people to anger to vote against APC but I can assure you that this events. if not checked would further encourage vote buying. How would someone who struggles to get as little as 2000 naira all week reject free 5000 - 7000 free cash on an election day?

Forget it

Efcc, dss and ic will be on every polling unit on the day of election

I heard that from a reliable source

Even though I'm a born again Christian, I will not deceive myself like my fellow Christians rooting for Peter Obi because every sane Christian knows he can never win. Those rejoicing over this naira redesign policy are doing so because they expect a protest vote against the ruling party which in their delusion will favor Obi . The naira redesign policy is a senseless one meant to scuttle the peace atmosphere we have in the country. We patriotic Nigerian Christians reject the wicked policy. And to those dumb Obidients rejoicing over this, "Heaven wan fall no be on top one man head". Peter Obi's chances at the polls is just like the chances of a gambler who played correct scores. It will surely end in pains. We Nigerians Christians reject the candidacy of Peter Obi.

Wahala no too much like this?

Meaningless.

Craze people

Fight against the redesign indicates for corruption

These are failed Governors whose states have been at the severe receiving end of banditry and kidnapping and who should be happy that currency redesign will limit cash availability to the criminals

Rather they are fighting the policy for selfish reasons- they want to have bulk cash to buy votes

APC have become wailers in their own government.

These Obi ers do not know anything, majority of Nigerians are suffering right now. People out there are desperately looking for money, funnily enough, there own money they kept in the bank but couldn't get. If they see free money, they would collect and thumb print for the buyer's party and if you try stopping them, they might mob you and beat you silly, no be una dey feed them.

Na wah. What is with this apc and naira redesign? Are they the only party? Is apc the opposition?

Devils😀 because Road to rigging is being blocked by buhari and e dey pain them

See desperation, when they hoarded palliatives and people were hungry, they didn't go to court to fight anybody.....

Ezeama400:
Thieves

Big thieves

Nothing dey happen, shey urinating machine say en go fight dirty? Dis is d time to fight dirty. All of a sudden, batified bastards are now sounding human, I thought urinating machine is a lion, regional lion playing god.
Regional politics is different from national politics.


@Moh247 TinubuAdvocate Freestuffsng Leodeking PandoraObi lhordpsy Abdul05 Throwback Batified2023 Biodun556 Roboto11 Ireportlive. Roboto11

Are y'all really ready to fly
The heat is on
Are y'all really ready to die
The heat is on
Have your mother ready to cry
The heat is on
Huh
The heat is on
You know

Desperate Niggas.

Oya lets vote:

Like for Tinubu (APC)
Share for Obi (LP)