The Federal Government on Wednesday, asked the Supreme Court to dismiss a suit filed by three states challenging the February 10 deadline set by the Central Bank of Nigeria (CBN) to end the use of old naira notes.
The FG’s suit was in reaction to an earlier ruling made on Wednesday, by the Supreme Court, restraining the federal government from implementing the February 10 deadline for the use of the old naira notes.
In a preliminary objection filed on Wednesday through his lawyers, Mahmud Magaji and Tijanni Gazali, the Attorney-General of the Federation (AGF), Mr. Abubakar Malami, argued that the Supreme Court lacks the jurisdiction to entertain the matter.
Malami contended that “the plaintiffs have equally not shown reasonable cause of action against the defendant”.
“The plaintiffs’ suit is about the power vested on the Central Bank of Nigeria by the Central Bank of Nigeria Act, 2007 to call in its banknotes and introduce new ones,” the notice reads.
“This suit as presently constituted falls under section 251(1)(a)(p)(q) & (r) of the Constitution (exclusive jurisdiction of the Federal High Court) by virtue of the subject matter and parties.
Recall that three states, Kaduna, Kogi, and Zamfara had filed a suit at the apex court seeking to restrain the Federal Government from implementing the February 10 deadline for the use of the old naira notes.
In a motion ex-parte filed before the supreme court, the three states are praying the court to grant an interim injunction stopping the Central Bank of Nigeria (CBN) from ending the timeframe within which the old N200, N500, and N1000 notes will cease to be legal tender.
The plaintiffs said since the announcement of the policy, there has been an acute shortage in the supply of the new naira notes in their states.
