Supreme Court to Deliver Judgment on New Naira Notes Dispute, March 3

• Says judiciary can’t be used as scapegoat

 

The Supreme Court today after a extensive court session,  fixed Friday, March 3, to deliver judgment in the legal dispute by some States Governments over the ban placed by the Federal government on the use of old naira notes.

However, the court warned that it would not allow the Federal and State governments to turn the judiciary into a scapegoat over the issue.

Justice John Okoro leading six other members of the panel issued the warning after consolidating the multiple suits filed by the various states over the subject matter.

The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, at the Wednesday’s proceedings, prayed the court to dismiss the case of the plaintiffs for want of competence.

The court also earlier joined seven states — Lagos, Cross River, Ogun, Ekiti, Ondo, Sokoto and Katsina, as parties to the suit that was originally filed by three northern states, Kaduna, Kogi and Zamfara.

A total of 12 states which include, Kogi, Kaduna, Zamfara, Cross River, Ogun, Ekiti, Ondo, Sokoto, Katsina, Jigawa, Abia, and Nasarawa have all joined on the side of the plaintiffs.

However, the Rivers, Kano, Jigawa and Nasarawa states had maintained that their own case was different from others.

The Rivers, Kano, Jigawa and Nasarawa states maintained that their case was not only with the Naira swap policy but also with the cash withdrawal limits allowed by the CBN for corporate bodies and individuals.

Edo and Bayelsa states also joined the suit as co-respondents.

Supreme Court in consolidating all the cases, stressed that the issue in dispute revolves around Section 20(3) of the CBN Act.

According to the apex court, there was no need for more states to apply for permission to join the litigation as others so interested should abide by its decision in the matter.

The AGF in his Preliminary Objection that was moved by Mr Tijjani Gazali(SAN), maintained that the Supreme Court lacked the requisite jurisdiction to entertain the dispute.

Malami while listing his grounds for challenging the power of the Supreme Court to intervene in the matter, accused the plaintiffs of opposing the FG’s power, through its agency, the CBN, to withdraw old banknotes and introduce new ones.

The AGF said “The plaintiffs’ suit is about the power vested on the Central Bank of Nigeria by the Central Bank of Nigeria Act, 2007 to call in its banknotes and introduce new ones.

“It is also the contention of the Federal Government that the plaintiffs have no reasonable cause of action against the defendant”.

The plaintiffs, however, urged the court not to exercise any favourable discretion to Federal Government which they argued acted in contempt of a subsisting order of the court.

Lagos State in its submission, informed the court that its case was different, maintaining that the new monetary policy by the CBN constrained it from carrying out its statutory functions as a state.

The court, before standing down proceedings, urged all the states it joined as interested parties in the matter to regularise their processes, and lamented the fact that the dispute had placed the judiciary in the eye of the storm.

Before the court went on 10 minutes break, the Attorney-General of Lagos State, Mr Moyosore Onigbanjo, SAN, informed the court that it had yet to receive any process from the Federal Government, in respect of the case.

Onigbanjo explained that with the development, the planned hearing of the consolidated suits of the states may be hampered.

Onigbanjo could conclude his submission, as the apex court panel reaffirmed its resolve to ensure that the matter was expeditiously heard and determined.

“We want to make it very clear that we are going to hear this matter today because we don’t want a situation where the judiciary will be made a scapegoat.

“With the way this matter is going, they want to make the judiciary a scapegoat but we can’t allow that.

“We are going to hear everything and make our decision. If you have a contempt proceeding, we will also hear it today,” Justice Okoro, head of  the panel emphasized.

Though the court initially said it would no longer allow any state to join the case as an interested party, upon its resumed proceedings

After the break, the court restrained its remark initially made longer not to allow any state to join the case as an interested party as it allowed a joinder application that was filed by Abia State.

Counsel to Abia State Mrs Udochi Iheanachor informed the court that her client had an application it filed on Tuesday, applied to be allowed to consolidate its position with other states challenging the new monetary policy by the CBN.

However, the apex court declined the Plateau state’s attempt to also join in the suit and urged all other states to await its decision on the matter.

On the part of Zamfara state,  its counsel, Mr Abiodun Owonikoko, SAN, urged the apex court to set aside the broadcast that President Muhammadu Buhari made on February 16, wherein he said that only the old N200 banknote to remain a legal tender till April 10.

Owonikoko argued that the President’s directive was a direct affront to the interim order of the apex court that restrained the Federal Government from proceeding with the full implementation of the CBN’s monetary policy.