CBN: Supreme Court Resumes Hearing On Naira Swap Policy Today

• The Supreme court is set to resume hearing on the Naira policy today.

• State Governors kicked against Buhari’s new policy, following the previous order by the court.

• They urged the supreme court to reallow the use of old 200, 500 and N1000 notes.

EKO HOT BLOG reports that the Supreme Court will today resume hearing on the naira redesign case filed by the state governments of Kaduna, Kogi, Zamfara and several others against the Muhammadu Buhari-led administration and the Central Bank of Nigeria (CBN).

The states are urging the Supreme Court to compel President Muhammadu Buhari, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, CBN, and commercial banks to recirculate the old N200, N500, and N1,000 banknotes as Nigeria’s legal tender.

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Kogi, Zamfara and Kaduna had also filed contempt proceeding against CBN governor, Godwin Emefiele, and Malami for their failure to comply with the Supreme Court order extending the deadline for the use of old N200, N500 and N1,000 notes.

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It was learnt that in a fresh document filed before the Supreme Court, the three states, who were the original plaintiffs in the suit against the naira swap policy of the Federal Government, warned Malami and Emefiele about the consequences of their continued failure to comply with the apex court’s order of February 3.

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