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Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work - Politics - Nairaland

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Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by ubest1(m): 11:39am On Feb 08, 2023
[b]Firstly, By law the CBN is an independent body Section (2b) and Section (17) of the CBN act gives the CBN the sole right to issue currency notes and coins throughout Nigeria and neither the Federal Government nor any state Government, Local Government, other person or authority shall issue currency notes, banknotes or coins or any document or token payable.

Secondly, by law this judgement by federal capital territory (FCT) high court has compelled the Central Bank of Nigeria (CBN) to go ahead with full implementation of the naira redesign. Delivering a ruling on Monday in the suit marked FCT/HC/CV/2234/2023, the court restrained the CBN from extending the deadline on the use of old naira notes has not be set aside because these are two different cases.

Thirdly Buhari we know just like Nnamdi Kanu case will ignore the judgement and go ahead and end the old current 10th and Supreme court will strike out the case on next sitting seeing no reason because Nigerian won't accept the old money again or after election judgement will allow both currency. Be wise go & deposit your old money don't allow Politician that has nothing to lose drag you into losing ur little penny.[/b]

Below is Supreme court suspicious judgement

The Supreme Court on Wednesday temporarily halted the move by the federal government to ban the use of the old naira notes from February 10, 2023.

A seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.

The three states had specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.

Moving the application on Wednesday, counsel to the applicants, Mr A. I. Mustapha, SAN, had urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.

He stated that the policy of the government had led to an “excruciating situation that is almost leading to anarchy in the land “.

While he referred to a Central Bank of Nigeria’s (CBN) statistics which put the number of people who don’t have bank accounts at over 60 percent, Mustapha lamented that the few Nigerians with bank accounts can’t even access their monies from the bank as a result of the policy.

The senior lawyer further argued that unless the Supreme Court intervenes the situation will lead to anarchy because most banks are already closing operations.
Delivering ruling in the motion, Justice Okoro, held that after a careful consideration of the motion exparte this application is granted as prayed, “An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
He accordingly adjourned to February 15, 2023 for hearing of the main suit.


Source https://www.thisdaylive.com/index.php/2023/02/08/supreme-court-temporarily-halts-banning-of-old-naira-notes/
Re: Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by lhordspy: 11:40am On Feb 08, 2023
Before even going through the whatever was written up there. I first of all checked the news outlet it's coming from. And yes, I guessed right. Its coming from 'Thisday' .. AriseTV too has been wailing since the judgement was delivered. The two ANTI-people media, the propaganda wing of Labour party.

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Re: Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by slivertongue: 11:40am On Feb 08, 2023
In this case, Buhari has the final say

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Re: Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by Moh247: 11:41am On Feb 08, 2023
Apex court ruling is final... It's like a law on its own binding all Nigerian entirely

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Re: Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by Midehi3(f): 11:44am On Feb 08, 2023
Let's see the outcome
Re: Why The Judgement Halting Banning Of Old Naira By Supreme Court Won't Work by Mynd44: 11:47am On Feb 08, 2023

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