But also in Abuja, the presidential candidate of the ruling All Progressives Congress (APC) Bola Tinubu has hailed Governors of the 36 States for standing on the side of the people over the Central Bank of Nigeria (CBN) cash swap policy., which has subjected the masses to suffering.
He also gave kudos to the three All Progressives Congress (APC) Governors for taking the initiative to institute the suit against the Central Bank of Nigeria (CBN) and the Federal Government.
The Supreme Court, on Wednesday, gave an interim injunction to the CBN and Federal Government’s policy on Feb. 10 deadline for cash swap.
It now allows the old N200, N500 and N1000 notes to remain legal tender beyond February 10 deadline.
Bu the CSOs are calling for the intervention of the CJN, claiming lack of jurisdiction by the highest court of the land.
“We say it categorically that the Supreme Court does not have the jurisdiction to entertain that matter that has been presented before it by some state Attorney General. We the CSOs are rejecting it.
“It is a plot to open bank vaults to enable vote buyers and holders of illicit wealth to have cash to buy votes. We urge the CJN to hurriedly vacate the Ex-parte order in the overall interest of the Nigerian election,” Okwukwe said.
He said according to the 1999 Constitution, as amended, the apex court has the right and original jurisdiction to entertain matters between states and the Federal Government. The rights activist argued that the naira redesign policy is a policy of the Central Bank of Nigeria (CBN) and has the backing of the Federal Government and ought not to be entertained by the Supreme Court.
Earlier on Wednesday, the Supreme Court restrained the Federal Government from implementing the February 10 Deadline for the old naira notes.
Three northern states — Kaduna, Kogi and Zamfara — had in a motion ex-parte filed on February 3rd, by their lawyer, AbdulHakeem Mustapha (SAN), prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy.
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A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The court further held that the FG, CBN, commercial banks must not continue with the deadline pending the determination of a notice on notice on in respect of the issue on February 15.
By this ruling, the old Naira notes continue to be legal tenders in Nigeria.
