The Presidency has said President Muhammadu Buhari never told the Attorney General and the Central Bank of Nigeria to defy the Supreme Court order on the old naira notes of N500 and N1, 000 denominations. According to a statement issued by the presidency via its Twitter handle yesterday, President Buhari said that at no time did he instruct the Attorney-General of the Federation, (AGF) and the CBN Governor to disobey any court orders involving the government and other parties. The statement read in part: “The directive of the President, following…
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Old Naira notes remain legal tender till Dec 31 – Supreme Court rules
The Supreme Court has ruled that old N200, N500, N1, 000 notes remain in circulation till December 31, 2023. The apex court, which gave the order yesterday, also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. Recall that sixteen States of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy. The suit initially instituted by Kaduna, Kogi and Zamfara States has been slated as the first case on the cause list for final verdict.…
Read MoreCashless Nigeria: Supreme court to deliver verdict on naira redesign policy after presidential election
The Supreme Court says it will deliver judgment in the suit challenging the naira redesign policy of the Central Bank of Nigeria (CBN), on March 3. The seven-member panel of the apex court communicated the decision, yesterday. The governors of the All Progressives Congress (APC) had argued that the policy was aimed at making the ruling party unpopular ahead of the elections. In light of the adjournment of the Supreme Court, the judgment can only be delivered after the presidential election billed for Saturday, February 25. Recall that the suit…
Read MoreNigerians shun Supreme Court order, reject old Naira notes
Many business operators in the Federal Capital Territory (FCT), have started rejecting the old Naira notes in spite of the Supreme Court order temporarily halting the ban on their use. Recall that following the redesigning of N200, N500 and N1,000 notes by the Central Bank of Nigeria, (CBN), Jan. 31 was announced as the deadline for use of the old notes. The Jan. 31 deadline was, however, met with outrage from Nigerians, forcing the apex bank to extend the deadline to Feb. 10, after which the notes would seize to…
Read MoreNaira Swap: “Why we stopped FG from enforcing deadline” – Supreme Court
The Supreme Court has said its decision to issue an interim injunction restraining the Federal Government and others from enforcing the February 10 deadline for the use of old naira notes was because the issue was of real urgency. Recall that the apex court, in a unanimous ruling on Monday by a seven-member panel, led by Justice John Okoro, held that the ex-parte application filed by three States – Kaduna, Kogi and Zamfara – raised an issue of real urgency, requiring the intervention of the court. Justice Okoro said, in…
Read MoreCashless Policy: 3 Northern Govs. take Buhari to Supreme Court over Naira scarcity
The governments of Kaduna, Kogi and Zamfara States have filed a lawsuit against the Federal Government before the Supreme Court, seeking a restraining order to halt the full implementation of the Central Bank of Nigeria (CBN)’s naira redesign policy. This comes amid the hardship that Nigerians go through in efforts to meet the deadline for the new naira notes exchange. In a motion ex-parte filed on their behalf by their lawyer, AbdulHakeem Uthman Mustapha (SAN), the Northern States urged the Supreme Court to give them an interim injunction stopping the Nigerian Government…
Read MoreSupreme Court affirms Akpabio APC Senatorial Candidate for Akwa Ibom North
The Supreme Court on Friday restored former Akwa Ibom State Governor, Godwin Akpabio as the Senatorial candidate of the All Progressives Congress APC for Akwa Ibom North Senatorial District. In a unanimous judgment delivered by Justice Ibrahim Saulawa, the Apex Court upheld the judgment of the Federal High Court in Abuja which in September last year granted verdict in favour of the immediate past Minister of Niger Delta Affairs. Saulawa after reviewing the arguments canvassed by Akpabio said that his appeal was meritorious and therefore was allowed. The judgement was…
Read MoreStay of Execution Judgment: Nnamdi Kanu approaches Supreme Court, appeals judgment
The banned Indigenous People of Biafra (IPOB), yesterday, confirmed that its leader, Nnamdi Kanu had approached the Supreme Court to set aside the ruling of the Court of Appeal staying the execution of the court’s judgment discharging him. The lead lawyer to IPOB and human rights activist, Ifeanyi Ejiofor, said this in an issued statement, yesterday. Recall that the appellate court had on Oct. 13, freed Kanu of the terrorism and treasonable felony charges preferred against him by the Federal Government. The three-member panel had, in the judgment, set aside…
Read MoreSupreme Court dismisses Buhari, Malami’s suit against new Electoral Act
The Supreme Court has struck out a suit filed by President Muhammad Buhari and the Attorney-General of the Federation, (AGF) Abubakar Malami, challenging Section 84(12) of the Electoral Act. The suit was sacked on Friday by a seven-judge bench of the apex court, led by Musa Dattijo-Muhammad. The bench unanimously struck out the suit, saying that it was an abuse of the court process. Delivering the lead judgment, Aokmaye Agim, held that President Buhari, having earlier assented to section 84 (12) of the Electoral Act 2022, cannot turn around to…
Read MoreAlleged Incompetence: CJN Tanko replies Supreme Court Justices over protest letter
The Chief Justice of Nigeria (CJN), Justice lbrahim Tanko Muhammad, yesterday, responded to complaints of alleged incompetence, poor welfare and degenerating state of the court, by Justices of the Supreme Court. Recall that the 14 Justices, in a letter addressed to the CJN, had questioned his commitment and loyalty to the Judiciary. They complained that under the leadership of Justice Muhammad they have been denied the welfare package they are entitled to, even when the package was captured in the apex court’s budgetary allocation. They also said it was becoming…
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