BREAKING: Worries As Supreme Court Adjourns Case On Naira Scarcity Again


THEREare concerns among Nigerians when Supreme Court today (Wednesday) adjourned the case on the naira swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22, 2023.


This is the second time the apex court will be adjourning the crucial case that attracts the interest of every Nigerian, due to the difficulty faced in getting the new naira notes.


The situation has almost crumbled the economy, as businesses suffer insufficient cash while domestic affairs were also affected.


The consolidated suit was filled by about by 10 states, while more have are also applying to joint the case.


The apex court, which heard the case on Wednesday, was filled to capacity with a retinue of Senior Advocates of Nigeria, other lawyers and the governors of Kaduna and Kogi states, Nasir El-Rufai and Yahaya Bello, respectively.


At the last hearing, the Court had temporarily banned the implementation of the February 10 deadline of the CBN from making the old N200, N500 and N1,000 notes legal tender.


The Zamfara, Kogi and Kaduna states had instituted the suit against the Federal Government and the CBN.


Other states, namely Niger, Kano, Ondo, Ekiti, had also applied to be joined in the suit against the CBN and the Federal Government.


Court proceedings began with Justice John Okoro leading a seven-man panel.

He said the court should not lose sight of the case and its intention as it affects the suffering of Nigerians.


Lagos State, through its Attorney General, Moyosore Onigbanjo, also applied, seeking to be joined in the suit.


Bayelsa State, led by Damian Dodo, had also applied to be joined in the suit as a respondent. Similarly, Edo State applied to be joined as a respondent.


CBN had declared that the old notes ceased to be legal tender from February 10, while some states are currently sanctioning banks and business entities that reject the old notes. Meanwhile, the new notes are still very scanty in the ATMs monitored by SlyeNews.


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