The Supreme Court is set to continue hearing the new/old Naira suit before it, concerning the stoppage by the FG and the CBN from ending the validity of the old N200, N500 and N1000 notes.
The Supreme Court had ordered that the CBN desists from going ahead with the February 10 deadline for the Naira notes to remain legal tender.
Seven states had joined the initial 3 who are praying that the Federal Government, the CBN, and commercial banks must not continue with the February 10 deadline, pending the determination of a notice in respect of the issue on February 22.
Bayelsa and Edo States seem not to be on the same page with the ten states, as they are seeking to join the Federal Government as defendants in the suit.
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Although President Mohammadu Buhari after the last sitting made a pronouncement allowing the 200 Naira notes to circulate, while the N500 and N1000 remain legal tender.
However, Kogi, Kaduna and Zamfara, have initiated contempt proceedings against the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, at the Supreme Court, following his alleged refusal to comply with the order that extended the deadline for the use of the old N200, N500 and N1000 banknotes as valid legal tenders.
Following the adoption of processes by counsels in the suit over the old/new Naira notes deadline as legal tender, the supreme court has adjourned the matter to March 3 for judgment.
More details later.
(Editor: Ifeanyi Mark)
