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Nairametrics
Home Economy Monetary Policy

Supreme Court: Ekiti joins states suing FG, CBN over naira redesign

Ekiti state said policy affecting generation of levies in the state.

William Ukpe by William Ukpe
February 13, 2023
in Monetary Policy
Naira redesign: Kano state drags FG to Supreme Court, says it violates 1999 constitution

New-Naira-Notes

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The South Western State of Ekiti applied to be joined as a co-plaintiff in a suit against the Federal Government at the Supreme Court on the Naira redesign policy.

This was disclosed in a statement by Mr. Yinka Oyebode, the Special Adviser to Gov. Biodun Oyebanji on Media on Sunday, after an application for joinder was filed on Friday at the Supreme Court by the Ekiti Attorney General and Commissioner for Justice, Mr. Dayo Apata, SAN.

Kaduna, Kogi, and Zamfara, dragged the Federal Government to the Supreme Court over the scarcity of old and new naira.

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Ekiti state revealed that the suit, with the number SC/CV/162/2023, had Attorneys General of Kaduna State, Kogi State, and Zamfara State as Plaintiffs, while the Attorney General of the Federation was the defendant.

Shortages: Ekiti state revealed that the grounds of the application included an acute shortage in the supply of Naira notes in the state since the announcement of the policy by the Federal Government through the CBN.

They added that the directive of the Federal Government had affected the livelihood and inflicted excruciating pain and hardship on all Nigerians, including citizens of the state and also adversely affected the revenue, levies, and taxes accruable to the coffers of Ekiti Government as economic activities in the state were now paralyzed.

They also added that in seeking common interest as other plaintiffs, no injustice or embarrassment would be occasioned to any of the parties on record, if joined, as a co-plaintiff to ventilate the grievances of Ekiti, they said:

  • ” The sole issue for determination is whether the applicant has made a case for the court to consider the application favorably.”
  • ” This was supported by an argument that the court had always been of the position that anyone whose presence is crucial and fundamental to a suit must be made a party to the proceedings.”

 What you should know

Nigeria’s Minister for Justice and Attorney-General of the Federation (AGF), Abubakar Malami, asked the Nigerian Supreme Court to dismiss a lawsuit by three states (Kaduna, Zamfara, and Kogi States) over the naira redesign policy of the Central Bank of Nigeria (CBN).

In court filings dated February 8, 2023, Malami argued that the plaintiffs had not shown any reasonable cause of action against the defendant.

  • “The plaintiffs have equally not shown the reasonable cause of action against the defendant. The claims or reliefs are not against the federation, but against the Federal Government and its Agency, the Central Bank of Nigeria.

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Tags: Naira Redesign
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

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