The Supreme Court on Tuesday, February 22, dashed hope of frustrated Nigerians hoping there would be a major pronouncement on the lawsuit against the federal government on the naira redesign policy.
This is as the apex court postponed the judgement in the new naira policy suit to March 3, 2023, a few days after the 2023 presidential and National Assembly (NASS) election.
Ikeja Bird recalls that Supreme Court had on February 8 restrained the federal government from enforcing the the February 10 deadline for deposit and swapping of the old naira notes with new ones.
The verdict was issued after three states: Kogi, Kaduna and Zamfara, dragged the federal government before the court over the naira redesign policy.
The Central Bank of Nigeria (CBN), however, did not comply with the ruling as Nigerians continued to groain as economy tumbled.
Seven more states, including Lagos, Kano and Yobe have since joined in the suit, with the supreme court expected to deliver a judgement today.
But to the shock of Nigerians, the apex court adjourned the case after the federal government legal representative, Kanu Agabi (SAN) said the Supreme Court held that all reliefs are rooted in section 20 of the CBN Act.
