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From Desmond Mgboh, Kano
Kano State Government Thursday dragged the Federal Government to the Supreme Court over the implementation of the new currency note by the Central Bank of Nigeria.
The state government, in suit no SC/CS/200/2023, is asking the Supreme Court to declare that the President of Nigeria cannot unilaterally direct the Central Bank of Nigeria to recall the N200, N500 and N500 old bank notes without recourse to the Federal Executive Council and National Economic Council, respectively.
The state government also asked the Court to issue a mandatory order reversing the policy on grounds that it is detrimental to the economic well-being of over 20 million of Kano citizens as well as the fact is in breach of the 1999 (as amended) Constitution of the country
The Supreme Court is similarly prayed to compel the Federal Government to reverse the cash swap policy for allegedly not complying with the 1999 constitution of the Nigeria and other extant legislations.
“A declaration that the combine reading of the provisions of the section 148(2) of 1999 constitution and Part 1, and Pharagraph 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 originating summon, the state government, further sought for a declaration that the President’s directive to the CBN to implement the cash withdrawal limits policy pursuant to the demonetization of Federal Republic of Nigeria without recourse to the Federal Executive Council and National Economic Council respectively is unconstitutional, illegal null and void.
The applicant is also praying for a mandatory order reversing the policy of the Federal Government on the recall of the old currency notes for allegedly failure to comply with the provisions of Constituiton and other extant legislation.
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