Supreme Court adjourns Naira swap suit for judgment
…Nigerians react
By Olubiyi Obasa
The Supreme Court has adjourned for judgment the suit filed by some States Governments on the Naira swap policy of the Central Bank of Nigeria.
The Supreme Court adjourned the suit on Wednesday after listening to the arguments of the counsel to the parties.
The States Governments had dragged the Attorney General of the Federation to court over the February 10, 2023 deadline set by the Federal Government for the swap from old to new Naira notes.
The notes affected are N200, N500 and N1,000.
President Muhammadu Buhari has however said the old N200 should remain legal tender alongside the new N200, N500 and N1,000 notes.
After listening to all parties in the suit on Wednesday, the Supreme Court fixed March 3 for judgment.
Nigerians react
Meanwhile, Nigerians have reacted to the Supreme Court’s decision to give judgment on March 3 over the naira redesign policy.
The Governors of Kaduna, Zamfara and Kogi States had earlier dragged the federal government to the apex court over implementing the Naira redesign policy by the Central Bank Of Nigeria.
The Court gave an ex parte order restraining the CBN from phasing out the old naira notes, N200, N500 and N1000.
However, President Muhammadu Buhari directed the CBN to allow only the old N200 notes to be legal tender until April 10.
The conflicting directives and orders have created confusion in the banking sector and among the generality of Nigerians.
The Court’s decision on Wednesday to keep judgment till March 3 further heightened the anxiety as Nigerians prepare for the February 25 presidential election.
Now Nigerians have taken to Twitter to give their opinion on the matters arising from the Supreme Courts date to rule on the matter.
Former Senator, Shehu Sani said the Supreme has left the federal and state governments in limbo over the decision to adjourn judgment to March 3.
“The Supreme Court left the two fighting couples in the middle of the sea”.
@Benigbakpa, a member of the federal House of Representatives said ”The Supreme Court just offered an alternative justification in favour of the Federal Government by assigning a similar probability to sustain the conviction of @MBuhari and @GodwinIEmefiele. Chaotic consequences for the plaintiff.
@Sanusi Dantata in his reaction said ”We all are suffering for the sins of a few! Thanks to the Naira Redesign Policy, and subsequent downturn in economic activities, see how our eggs dey pile! Our store and floor are entire. We must continue to Feed our Birds! Meanwhile, people need to buy! God will see us through
