The Kano State Government has filed a suit against the Federal Government at the Supreme Court in respect of the naira redesign policy of the Central Bank of Nigeria.
In the suit filed by the Kano State Attorney General, through his Counsel, Sunusi Musa (SAN), the state government is seeking the Apex court to declare that the President of Nigeria, cannot unilaterally direct the Central Bank of Nigeria to recall the now N200, N500, and N500 old Bank notes without recourse to the Federal Executive Council and National Economic Council, respectively.
The Kano government is praying a mandatory order seeking a reversal of the Federal Government policy to recall the N200, N500, and N1,000 notes from circulation due to the policy affecting the economic well-being of over 20 million Kano citizens.
According to the reports, the applicant is also seeking for mandatory order, compelling the Federal Government to reverse the naira redesign policy for alleged failure to comply with the 1999 Constitution (as amended).
The suit read, “A Declaration that the combined reading of the provisions of section 148(2) of 1999 constitution and Part 1, and Paragraph 19 of the Third Schedule thereof, the President cannot unilaterally without recourse to the Federal Executive Council and National Economic Council respectively give approval to the Central Bank of Nigeria for the implementation of cash withdrawal limit pursuant to the demonetization economic policy of the Federal Government of Nigeria.”
In the originating summon, the Kano State Government, further prayed for a declaration, that the president’s directive to the CBN for the implementation of the cash withdrawal limits policy pursuant to the demonetization of the Federal Republic of Nigeria without recourse to FEC and NEC respectively is unconstitutional, illegal null and void.
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