Governors vs Buhari, CBN: Supreme Court Resumes Listening To Naira Swap Policy

The Supreme Court will in the present day resume listening to on the naira redesign case filed by the state governments of Kaduna, Kogi, Zamfara and several other others in opposition to 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 Lawyer Common of the Federation and Minister of Justice, Abubakar Malami, CBN, and business banks to recirculate the outdated N200, N500, and N1,000 banknotes as Nigeria’s authorized tender.

Kogi, Zamfara and Kaduna had additionally filed contempt continuing in opposition to CBN governor, Godwin Emefiele, and Malami for his or her failure to adjust to the Supreme Court order extending the deadline for using outdated N200, N500 and N1,000 notes.

It was learnt that in a recent doc filed earlier than the Supreme Court, the three states, who have been the unique plaintiffs within the go well with in opposition to the naira swap coverage of the Federal Authorities, warned Malami and Emefiele concerning the penalties of their continued failure to adjust to the apex court’s order of February 3.