On Wednesday, the Supreme Court set March 3 for the decision in the governors’ petition against the Buhari administration about naira notes.
In a single lawsuit, at least 17 states are asking that President Muhammadu Buhari be prevented from enacting the rapid redesign of the national currency.
After hearing from hundreds of attorneys representing the governors and the federal government, the Supreme Court announced that a decision will be made in the case next month.
After the February 25 presidential election, the judgement date will be set. The old notes should continue to be used, according to an earlier order by the court.
Arguments during today’s hearing focused on a contempt decision against Attorney-General Abubakar Malami, who had failed to implement the court’s decision for old notes to keep circulating until a substantive ruling on the matter.
The states, including Kaduna and Lagos, sued the Buhari regime earlier this month, arguing that implementing a change of banknotes at this time would hurt citizens. Banks have not been able to make available new notes to Nigerians, which has caused economic hardships.
The Central Bank of Nigeria, which introduced the new notes on Mr Buhari’s directive, said it would try to make available the much-sought N500 and N1,000 notes.
Details shortly…
