Just in: Supreme Court adjourns suit on naira redesign policy until Feb. 22

Against all permutations and expectations, the Supreme Court on Wednesday adjourned hearing in a suit filed by three states against the Federal Government, seeking an order to stop the full implementation of the Central Bank of Nigeria (CBN) naira redesign policy.

At the scheduled hearing of the case on Wednesday, the seven-man panel of the apex court led by Justice John Okoro adjourned the suit filed by Kaduna, Kogi, and Zamfara States till Wednesday.

Persecondnews reported that the governments of Zamfara, Kaduna and Kogi had taken FG to the Supreme Court for reliefs on behalf of their citizens to challenge the Feb. 10 deadline for old naira notes swap and to cease to be legal tender.

The court had in its ruling on Feb. 8 directed all parties to maintain the status quo ante and quashed the Feb.10, 2023 deadline till the determination of the case fixed for Feb. 15, 2023.

Persecondnews reports that governors of Kaduna and Kogi States — Nasir el-Rufai and Yahaya Bello — Senior Advocates of Nigeria (SAN) and other lawyers attended the court session on Wednesday.

Lagos, Ogun Niger, Kano and Ekiti States have also joined the suit against the Federal Government while Bayelsa and Edo States applied to be joined as respondents.