Naira Crisis: States Plan Contempt Proceedings Against Malami, Emefiele

Naira Crisis: States Plan Contempt Proceedings Against Malami, Emefiele

Some state governments intend to file contempt charges against the federal government and the Central Bank of Nigeria (CBN) for failing to comply with the Supreme Court’s decision on the naira redesign policy.

The Supreme Court ruled last week that the old N200, N500, and N1,000 notes will remain legal tender until the end of 2023.

Following the decision, some banks have distributed old notes to customers, but the banks require customers to fill out a form on the CBN portal before the old notes can be deposited.

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In anticipation of official approval from the CBN or President Muhammadu Buhari, traders, motorists, and business owners have also refused to accept the old naira notes.

The governments of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states served the enrolled order and certified true copy (CTC) of the supreme court judgement on Abubakar Malami, the federation’s attorney-general, on Friday.

Abdulhakeem Mustapha, counsel for Kaduna, Kogi, and Zamfara states, stated that the non-service of the documents had provided the government and the CBN with an escape route.

“The Attorney-General of the Federation has been served now and we will take it up from there; if there is no compliance now, we will commence committal proceedings against the attorney-general and the CBN governor,” Mustapha told ThePunch.

“When the Supreme Court talks, the constitution makes it compulsory for all government representatives and everybody to comply with its order. It’s not discretional, you have to obey, it is the last and the final and that is why we have separation of power.

“The presence of separation of power is for checks and balances; when the Supreme Court talks, it must be complied with by all persons.”

The Kogi government recently threatened to arrest and prosecute individuals and businesses who refused to accept the old naira notes.

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