Naira Redesign: Kogi, Kaduna, Zamfara Sue Malami, Emefiele For Contempt Of Court
…presidential Directive On N200 Notes Stands, CBN Insists
Thre States, Kaduna, Kogi, and Zamfara on Tuesday filed contempt proceedings against the Attorney General of the Federation, Abubakar Malami, and the Central Bank Governor, Godwin Emefiele, over their alleged failure to comply with the Supreme Court order on old naira notes.
In the fresh documents filed before the court, the three states warned the AGF and the CBN Governor of the consequences of their continued failure to comply with the apex court’s order made on February 3.
The two sets of Form 48, filed by the lawyers for the three states, form part of the applications for consideration by the Supreme Court Justices when the matter resumes on Wednesday.
The states have argued that the implementation of the policy has caused untold hardship for residents.
Recall that on February 8, the Apex court had restrained the CBN from going ahead with the deadline on the use of old notes following an ex parte application brought by the three states.
The AGF, who is the sole respondent, had also filed a preliminary objection to the suit, arguing that the supreme court lacks the jurisdiction to entertain the matter.
Malami also said the plaintiffs failed to join the CBN in the suit, which has just the AGF as the sole plaintiff.
Seven other states joined as co-plaintiffs, while Edo and Bayelsa states joined the AGF as defendants.
Meanwhile, the Central Bank of Nigeria (CBN) on Tuesday said President Muhammadu Buhari’s directive on the N200 notes still stands.
Buhari in his nationwide broadcast on February 16 directed the apex bank to only reissue and re-circulate the old N200 banknotes. The old N200 is expected to circulate as legal tender for 60 days up to April 10.
In a statement, the CBN dismissed some media reports that the President approved the reissuance and release of the old N500 and N1000 notes as legal tender in the country.
It described the reports as fake news, pledging to work with security agencies to unravel the perpetrators of the misleading reports.
“ The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE Purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country,” the statement read.
“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. Members of the public are therefore advised to ignore this fake news.
“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly.”
