Justice Agim stated that the act of the president and government of Nigeria is an act of the federation.
The court held that the dispute is between the states and the government of the federation and within the original jurisdiction of the court
It held that the government of the federation should have held adequate consultation to avoid massive disruption of government operations and trades.
It invalidated the argument that the CBN was the proper party to be sued, maintaining that it is not the action of the CBN that is being challenged but the validity of the decision of the President to redesign naira, release the new notes into circulation and withdraw the old notes without consultation with Nigerians through the council of states and the National Economic Council.
The court held that the CBN does not have to be joined as a party in the suit as the CBN has no power to carry out the policy without the directive of the president and that the suit is not an action against the banks or the CBN.
PUNCH
