CBN Must Obey S’court Judgment On Old Naira Notes – Falana

Share the News
Mary Ugwuanyi

The Alliance for Surviving COVID-19 and Beyond, ASCAB, comprised of 70 labour and civil society organisations, CSOs, has said that the Central Bank of Nigeria, CBN, must comply with the ruling of the supreme court on the deadline for the use of old naira notes.

Recall that a seven-member panel of the supreme court led by John Okoro, on Wednesday, temporarily stopped the federal government from restricting the use of the old naira notes after February 10.

The suit was filed by governors of Kaduna, Kogi, and Zamfara states.

Femi Falana, ASCAB’s interim chairman, in a statement on Thursday, alleged that there are speculations that the CBN has decided against obeying the ex parte order of the apex court.

The statement read, “The reason adduced for the contemptuous disregard for the rule of law is that the Central Bank of Nigeria is not a party to the case of Attorney-General of Kaduna State & 2 Ors. v. Attorney-General of the Federation (Suit No: SC/CV/162/2023) pending at the Supreme Court.”

ASCAB cited cases to provide context to the matter on ground.

See Also: <strong>No Going Back On Feb 10 Deadline For Old Naira Notes – CBN

“It is pertinent to remind the Management of the Central Bank of the case of Nkwo Augustine Eddiego v. Board of Central Bank of Nigeria (Suit No: HCIK/38/2022), where the Delta State High Court granted an ex parte order which restrained the Defendants from preventing the Governor of the Central Bank of Nigeria from seeking political offices pending the hearing and determination of the motion on notice in the case,” the statement reads.

“Even though Mr. Emefiele was not a party to the suit he took advantage of the ex parte order to join the APC to contest the presidential primary of the APC before he was stopped by President Buhari.

“Similarly, in the case of Incorporated Trustees of the Forum for Accountability and Good Leadership v. Attorney-General of the Federation & Ors. (Suit No: FCT/HC/GAR/CV/41/2022) the High Court of the Federal Capital Territory granted an injunction restraining the State Security Services from arresting, investigating, and prosecuting Mr. Emefiele for terrorism financing.

“Although he was not a party to the suit Mr. Emefiele has not been arrested by the State Security Services on the basis of the court order.”

Source: Cable

Leave a Reply

Your email address will not be published. Required fields are marked *