Naira Swap: Full list of 10 states asking S’Court to overrule Buhari's pronouncement

President Muhammadu Buhari's decision to go contrary to the ruling of the Supreme Court on the matter of the new naira swap policy has not gone down well without a fight.

10 states in reaction have filed an application before the apex court seeking the nullification of Buhari's pronouncement that only N200 should be re-circulated as legal tender, effectively banning N500 and N1000 notes.

The states: Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos and Sokoto states, in their motion filed on Friday prayed the Supreme Court to set aside the president’s directive to the Central Bank of Nigeria (CBN) during his Thursday, February 16 media broadcast.

The states contended that the directive is an unconstitutional “overreach and usurpation of the judicial power” of the Supreme Court as the substantive matter is before the apex court, which on February 8 issued an interim order ex parte that the old N200, N500 and N1000 notes remain legal tender in Nigeria pending the determination of the motion on notice."

The lawyers led by A.J. Owonikoko (SAN) argued that the apex court reaffirmed the ex parte order on February 15, adding that the federal government had submitted to the jurisdiction of the court having appeared in the suit, making the matter subjudice, Daily Trust wrote.

The five-member panel of the Supreme Court led by Justice John Inyang Okoro had on February 15 categorised the 10 states opposing the naira redesigning and swap deadline as co-plaintiffs, while those in support, including Bayelsa and Edo states, were categorized as co-defendant states.

Hearing on the matter is expected to be heard on Wednesday, February 22.

NBA