The Supreme Court adjourned the naira redesign suit for judgement after hearing arguments for and against it on Wednesday.
The Supreme Court on Wednesday fixed 3 March for judgement in a suit filed by some state governments challenging the federal government’s naira redesign policy.
“All the suits adjourned until 3 March for judgement,” the presiding justice of the Supreme Court, John Okoro, said.
The Supreme Court adjourned the suit for judgement after hearing arguments for and against it on Wednesday.
The date of judgement is about a week after Nigeria’s presidential election which holds Saturday (25 February), and a week ahead of state elections scheduled to come up on 11 March.
Earlier in the proceedings, the seven-member panel of the court consolidated the separate suits filed by Abia and River states to challenge the federal government’s policy.
It was the first sitting of the Supreme Court on the matter after President Muhammadu Buhari violated the court’s 8 February order for continued use of the old N200, N500, and N1,000 banknotes.
A seven-member panel of the court had ordered that the 10 February deadline set for the ending of the validity of the old banknotes be suspended.
The court also ordered that the old N200, N500, and N1000 banknotes should circulate alongside their newly redesigned versions pending a further hearing in the case.
But in a direct affront to the Supreme Court, Mr Buhari, on 16 February directed in a national broadcast that only the old N200 notes would remain valid, while the old N500 and N1,000 currency notes had ceased to be legal tender.
At the last sitting on 15 February, two states – Edo and Bayelsa – joined the side of the federal government in the suit, while seven others joined the side of the original three plaintiffs.
The newly-joined co-plaintiffs are Cross River (South-south), Sokoto (North-west), Lagos (South-west), Ogun (South-west), Katsina (North-west), Ondo (South-west) and Ekiti (South-west) states.
It emerged on Wednesday that Jigawa and Nasarawa states have joined the plaintiffs.
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