The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over “the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 notes remain legal tender.”
Joined in the suit as defendants are the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, and the Central Bank of Nigeria (CBN).
Buhari defies the Supreme Court
The Supreme Court in a case initially brought by 10 states recently held that the old banknotes remain legal tender pending the determination of a motion on notice fixed for February 22. The deadline for the swap of the old notes expired on February 10.
However, Buhari in a national broadcast on Thursday directed the CBN to recirculate only the old N200 banknotes, banning the use of old N500 and N1,000 notes in the country.
SERAP says Buhari’s directive is unconstitutional, unlawful
In the suit number FHC/ABJ/CS/233/2023 filed last Friday at the Federal High Court, Abuja, SERAP is asking the court to determine “whether Buhari’s directive banning the N500 and N1,000 banknotes is not inconsistent and incompatible with the constitutional duties to obey decisions of the Supreme Court and oath of office.”
The advocacy group is asking the court for “a declaration that Buhari’s directive banning the use of old N500 and N1,000 banknotes is a fundamental breach of section 287(1) of the Nigerian Constitution 1999 (as amended) and his constitutional oath of office, and therefore unconstitutional, unlawful, null and void.”
It also seeks an order of interim injunction restraining Buhari, the CBN, and Malami, their agents or privies, from further enforcing the presidential directive banning the old N500 and N1,000 banknotes, pending the hearing and determination of the motion on notice filed in its suit.
The suit was filed on behalf of SERAP by its lawyers Ebun-Olu Adegboruwa, SAN, and Kolawole Oluwadare.
Other reliefs sought by SERAP
SERAP is also asking the court for the following reliefs:
- A declaration that by virtue of section 287(1) of the Nigerian Constitution, 1999, Buhari, the CBN, and Malami have a constitutional duty to obey and enforce any decisions and orders of the Supreme Court, particularly the order allowing the use of old N200, N500, and N1,000 banknotes;
- An order restraining and stopping the CBN from carrying out and giving effect to the directive of the President directing and approving that the old N500 and N1,000 banknotes are no longer legal tender and the old N200 banknote will cease to be legal tender on April 10, 2023, in compliance with the order of the Supreme Court of Nigeria made on February 8, 2023, in the Suit Number SC/CV/162/2023 – Attorney General of Kaduna State & two Ors v. Attorney General of the Federation;
- And an order for the CBN to direct all commercial banks in Nigeria to accept and give out the old N200, N500, and N1,000 banknotes as legal tender concurrently along with the new banknotes of the same denomination in line with the order of the Supreme Court.
No date has been fixed for the hearing of the suit.
For the record
- SERAP had a few days ago called on the CBN Governor, Godwin Emefiele, to respect the Supreme Court ruling on the February 10, 2023 deadline for the swapping of old naira notes for newly redesigned ones.
- The group in a statement posted on its official Twitter account on Wednesday said, “The Supreme Court order stopping the CBN from implementing the February 10, 2023 deadline for swapping of old Naira notes for the redesigned Naira notes, remains valid. The CBN must obey the order.”
