Naira redesign: We Won’t Be Your Scapegoat – Supreme Court Tells FG

The Supreme Court has stated that it will not permit the federal government and the states to use the judiciary as a scapegoat in the legal battle over the Central Bank of Nigeria’s naira redesign policy (CBN).

This was stated on Wednesday by a seven-member court panel chaired by Inyang Okoro as it consolidated several lawsuits filed by several states seeking to halt the full implementation of the naira redesign scheme.

We don’t want a situation where the judiciary would be used as a scapegoat, therefore we want to be very clear that we are going to hear this subject today, Okoro added. “With how things are going, they’re looking for a scapegoat, but we won’t be that scapegoat,” we said.

“We will consider all the information before concluding. We will also hear any contempt cases you may have today.

At the hearing, six more states—Rivers, Kano, Niger, Jigawa, Nasarawa, and Abia—joined the lawsuit, bringing the total to 16.

Kanu Agabi, the attorney for the federal government, commented on the case and claimed that the plaintiffs are “weeping in the wrong place.”

He added, “The process cannot be heard in this court if your lordships determine that the reliefs sought by the plaintiffs are anchored in section 20(3) of the CBN Act.

The Supreme Court is not permitted to exercise original jurisdiction. They are sobbing inappropriately.

He went on to say that the plaintiffs’ initial summons and written affidavits contained 32 references to the CBN.

“Why not allow CBN inside? According to him, the CBN is the target of seven of their eight relief requests.

“Nigerians had been refusing old notes for a long time before the supreme court’s ruling. When we file processes, they don’t even gather it in this supreme court.

The subject was postponed until March 3 for a decision after state representatives presented their views.

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