BREAKING: Kano Govt Drags FG To Supreme Court Over Naira Redesign Policy

BREAKING: Kano Govt Drags FG To Supreme Court Over Naira Redesign Policy

The Kano State Government filed a suit against the Federal Government in the Supreme Court on Thursday evening in relation to the Central Bank of Nigeria’s naira redesign policy.

In suit number: SC/CS/200/2023, the Kano State Attorney General, through his Counsel, Sunusi Musa, SAN, requests that the Supreme Court rule that the President, Major General Muhammadu Buhari (retd.), cannot unilaterally direct the CBN to recall the now-outdated N200, N500, and N1,000 banknotes without first consulting the Federal Executive Council and the National Economic Council.

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The Kano government has requested a mandatory order to reverse the Federal Government’s decision to withdraw the N200, N500, and N1,000 notes from circulation, citing the policy’s impact on the economic well-being of over 20 million Kano citizens.

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The applicant is also requesting a mandatory order compelling the Federal Government to reverse its naira redesign policy due to alleged noncompliance with the 1999 Constitution (as amended).

The applicant is also asking the Supreme Court to order the Federal Government to reverse its cash swap policy because it allegedly violates the 1999 Constitution and other existing laws.

“A Declaration that the combined reading of the provisions of the section 148(2) of 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.

The Kano State Government also requested a declaration that the president’s directive to the CBN for the implementation of cash withdrawal limits policy pursuant to the Federal Republic of Nigeria’s demonetisation without recourse to the FEC and NEC is unconstitutional, illegal, and null and void.

The applicant is also requesting a mandatory order reversing the Federal Government’s policy of recalling old currency notes for allegedly failing to comply with the provisions of the Constitution and other existing legislation.