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<\/figure>\n<\/figure>\n\n\n\n***As FG Files Reasons Before Supreme Court On Why the Case Must Be Strucked Out<\/p>\n\n\n\n
The Federal Government has finally bowed to pressure from Nigerians particularly the heat from the legal action instituted by the state governments.<\/p>\n\n\n\n
This is as the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami said that the federal government will obey the supreme court ruling on the old naira notes which put on hold the Central Bank of Nigeria (CBN) demonetisation policy but the government would take necessary steps to set aside the interim order.<\/p>\n\n\n\n
The Buhari government through the Minister of Justice has also filed what it called reasons at the Supreme Court as to why the three states suit challenging the deadline fixed by the CBN for phasingng out the old naira notes #1000, #500 and #200.<\/p>\n\n\n\n
Recall that the Supreme Court had in a ruling on Wednesday suspended the CBN deadline for demonetisation policy THEand fixed February 15 for hearing on the matter.<\/p>\n\n\n\n
Malami who made the clearification said that the federal government, out of its regard for the rule of law, would abide by the order of the apex court, even though it intended to challenge it and would do so within the provisions of the law.<\/p>\n\n\n\n
News Emperor authoritstively gathered that the federal government is not relenting but doing everything possible to take the appropriate steps on the issue.<\/p>\n\n\n\n
It was based on the above that it was said that the FG had filed reasons before the Supreme Court as to why the suit by three states challenging the February 10 deadline fixed by the CBN for phasing out the old N1, 000, N500, and N200 banknotes should be struck out.<\/p>\n\n\n\n
Few days ago also, the CBN, as we were reliably informed attributed the continued scarcity of new banknotes to hoarding in certain quarters.<\/p>\n\n\n\n
Meanwhile, a seven-member panel or tesm from the apex court presided by Justice John Okoro had on Wednesday temporarily stopped the CBN from effecting the scheduled ban of old naira notes in N200, N500 and N1,000 denominations from February 10.<\/p>\n\n\n\n
The order was issued during a ruling on an ex parte application brought by Kaduna, Kogi, and Zamfara states against the AGF.<\/p>\n\n\n\n
The three complaining states had asked the court to issue an interim injunction against the government, pending the hearing and determination of their suit challenging the naira redesign policy of the CBN.<\/p>\n\n\n\n
The three states argued, among others, that the policy had brought an excruciating situation upon the country and unless the Supreme Court intervened timeously there might be anarchy in the country.<\/p>\n\n\n\n
Recall that the apex court in its ruling on Wednesday, suspended the February 10 deadline on the old naira notes which expires today.<\/p>\n\n\n\n
The Attorney General of the Federation, Abubakar Malami, who confirmed the latest development while responding to questions in an in terview on Arise TV on Wednesday, further added that the government was hopeful that the ex parte ruling which expires on Wednesday, February 15, 2023, would be upturned.<\/p>\n\n\n\n
The Honourable minister equally hinted that the CBN, which is a necessary party to the issue, was not joined and that consequently, the Supreme Court lacked jurisdiction to decide on the matter in the first instance.<\/p>\n\n\n\n
Malami, thereafter, insisted that the decision of the government to obey the Supreme Court order on the naira deadline was based on the administration\u2019s respect for the rule of law.<\/p>\n","protected":false},"excerpt":{"rendered":"
***As FG Files Reasons Before Supreme Court On Why the Case Must Be Strucked Out The Federal Government has finally bowed to pressure from Nigerians particularly the heat from the legal action instituted by the state governments. This is as the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami said […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-276","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/posts\/276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/comments?post=276"}],"version-history":[{"count":1,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/posts\/276\/revisions"}],"predecessor-version":[{"id":279,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/posts\/276\/revisions\/279"}],"wp:attachment":[{"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/media?parent=276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/categories?post=276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsemperormagazines.com.ng\/news\/wp-json\/wp\/v2\/tags?post=276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}