The Kano State Government has filed a lawsuit against the Federal Government at the Supreme Court over the naira redesign by the Central Bank of Nigeria (CBN).
In the lawsuit filed on Thursday, the Kano State Attorney General, through his lawyer, Sunusi Musa, is arguing that President Muhammadu Buhari cannot direct the CBN to recall the old N200, N500 and N1,000 banknotes without first consulting the Federal Executive Council and the National Economic Council.
The Kano government is seeking a court order to reverse the Federal Government’s policy of recalling these banknotes, citing the adverse impact it would have on the economic well-being of over 20 million Kano citizens.
It also seeks a mandatory order to compel the Federal Government to reverse the naira redesign policy, alleging that it violates the 1999 Constitution.
Additionally, the Kano government is asking the Supreme Court to mandate the Federal Government to reverse the cash swap policy, claiming that it does not comply with the 1999 Constitution and other relevant legislation.
“A Declaration that on the combined reading of the provisions of the Section 148(2) of the 1999 Constitution and Part 1, and Paragraph 19 of the Third Schedule thereof, the President cannot unilaterally, without recourse to the Federal Executive Council and National Economic Council respectively give approval to the Central Bank of Nigeria for the implementation of cash withdrawal limit pursuant to the demonetization economic policy of the Federal Government of Nigeria,” the suit read.
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In the originating summon, the Kano State Government further prayed for a declaration that the president’s directive to the CBN for the implementation of cash withdrawal limits policy pursuant to the demonetisation of the Federal Republic of Nigeria without recourse to FEC and NEC respectively is unconstitutional, illegal, null and void.
The applicant is also praying for a mandatory order reversing the policy of the Federal Government on the recall of old currency notes for alleged failure to comply with the provisions of the Constitution and other extant legislation.