TheCable

Nasir el-Rufia and Yahaya Bello, governors of Kaduna and Kogi are present at the supreme court for the hearing in a suit instituted by the states over the naira redesign policy by the Central Bank of Nigeria (CBN).

In a motion ex parte filed before the supreme court, Kaduna, Kogi, and Zamfara represented by Abdulhakeem Mustapha, had prayed the court to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1,000 notes will cease to be legal tender.

On February 8, the court restrained the apex bank from giving effect to the February 10 deadline.

The federal government has also filed a preliminary objection to the suit, arguing that the supreme court lacks the requisite jurisdiction to entertain the matter.

The government is represented in court by Kanu Agabi, a former minister of justice and attorney general of the federation.

A seven-member panel of the apex led by John Okoro is currently presiding to hear the suit.

The court is Jam-packed with litigants and lawyers.

Lagos, Katsina, Cross-River, Ogun, Ekiti, Ondo, and Sokoto states are represented in court seeking to be joined as co-plaintiffs in the suit.

Bayelsa and Edo states have joined as respondents.

Two Peoples Democratic Party (PDP) states told the supreme court that they were supporting the CBN.