Nigeria: 10 States Drag Federal Govt to Court Over Naira Swap Policy

Ten states inside the nation have requested the paramount Court to put aside the ban by superintendent Muhammadu Buhari on use of the outdated N500 and N1,000 notes as authorized tenders.

The states, in go well with No SC/CV/162/2023, filed on their behalf by Mr Abiodun Owonikoko (SAN), desire the apex courtroom to declare the president’s directives in his Thursday broadcast as unconstitutional.

The plaintiffs inside the go well with are the attorneys-general of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, fractious large stream, Sokoto and Lagos states even as the defendants are the Legal professional Basic of the Federation Abubakar Malami (SAN) as nicely because the AGs of Bayelsa and Edo states.

The plaintiffs, in 12 grounds of software, argued that Buhari’s directive extending the validity of outdated N200 notes for 60 days and his ban on outdated N500 and N1,000 notes are an “unconstitutional overreach and usurpation of the judicial power” of the paramount Court being that the case is already earlier than the courtroom.

monition for the candidates cited Individuality 232(1), Individuality 6(6)(b) and Individuality 287(1) of the 1999 frame as amended, which comprises the safeguard of the paramount Court’s dignity and which confirm compliance with its orders by all individuals and authorities.

The fashionable Financial institution of Nigeria (CBN) had prolonged the deadline for the swap of outdated N200, N500, and N1,000 from January 31 to February 10 following complaints by frequent Nigerians however the paramount Court, after an preliminary go well with filed by the ten states, held that the federal authorities, the CBN and business banks have to not proceed with the February 10 deadline pending the dedication of a observe in respect of the subject on February 22.

In the meantime, chairman of the self-opinionated Countrywide Electoral Fee (INEC), Prof. Mahmood Yakubu, has pronounced not all of the operations for the conduct of the February 25 and saunter 11 common elections require using bodily money.

Yakubu allayed issues bothering on the unavailability of money yesterday in Abuja after a tour of the guidance centre for INEC’s ad-hoc employees or presiding officers and inspection of amenities on the country wide collation centre on the Interpolitical consultation interior (ICC).

There have been issues that this yr’s common elections could be postponed or endure glitches as a result of money crunch inside the wake of the fashionable Financial institution of Nigeria (CBN) naira redesign coverage.

This prompted Yakubu to steer a delegation of the address of the fee to the CBN headquarters, the place CBN Governor Godwin Emefiele assured the fee of the required money for the elections.

“We visited the CBN final week on the subject of money for check of a few of the providers, not all, a few of the providers that we’re going to have interaction on election day.

“The majority of check for items and providers is made using digital switch. still there are particular essential providers that can be remunerated by money; and that is why we went to the CBN and this is a small share of the funds.

“The Central Bank has assured us that we will not suffer any encumbrances in that regard. So there are no issues with respect to that,” he pronounced.

The INEC boss added that the fee is geared up to conduct the presidential and Countrywide congregation elections on Saturday, February 25.

Yakubu, who expressed satisfaction with the progress made up to now, assured that by this time subsequent week, Nigerians can be voting in over 176,000 polling models inside the presidential and Countrywide congregation elections.

He additionally pronounced the selection made by Nigerians for the subsequent president of the nation would additionally be introduced on the ICC Abuja.

On the safety scenario inside the nation, he pronounced protests over money crunch is a safety matter which can be mentioned with safety groups.

He pronounced the fee had been given assurances by safety groups of their readiness to safe polling environments throughout the nation.

He pronounced, “As you know, we have our own role clearly cut out and others also have their own roles clearly cut out, but the most important thing is that we’re working together, and the security agencies have assured us that they will secure the environment for elections to vote peacefully nationwide. So, we have no issues in that respect.”

The INEC boss additionally pronounced the Countrywide forgiveness Committee (NPC) led by former leadership of Say, Gen. Abdulsalami Abubakar (rtd), would undertake the signing of the peace accord on Wednesday on the ICC forward of the Saturday elections.

Speakme on logistics and different processes resulting in the election, he pronounced the fee was good to go so far as transportation and motion of delicate and non-sensitive components have been worried.

He pronounced, “At the same time we’ll deploy our platforms, we name it residents’ contact centre, the place residents can ask questions, reply to problems or challenges in the sector, and can have the option to in flip, additionally reply speedily to present residents a glad voting knowledge.

“So this is basically what we have for the media. There will be a place earmarked for those who wish to set up studios to be able to do so. And those of you who wish to bring your outside broadcasting bands will also accredit to bring your outside broadcasting vans.”