The Supreme Court on Wednesday, adjourned
hearing on the case involving the naira swap deadline fixed by the Central Bank
of Nigeria but advised federal government and other parties before it on the
need to align with its interim order to prevent breakdown of law and order.
The apex court also refused to give fresh orders against the CBN
but directed protesting states to amend and streamline their processes into one
and come on February 22 (Wednesday) for hearing.
It was reported that the
apex court had earlier granted an exparte motion filed by the governments of
Kaduna, Kogi and Zamfara states seeking “an 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 an interlocutory injunction.”
But the Attorney-General
of the Federation (AGF), Abubakar Malami, SAN, had filed a preliminary
objection against the suit, urging the apex court to decline jurisdiction.
The court subsequently
fixed today (February 15) for hearing.
But on Wednesday, Lagos, Cross Rivers, Ogun, Ondo, Sokoto, Bayelsa,
Edo states announced appearance saying they want to be joined as co-defendants.
Rivers and Kano states filed separate suits before the apex
court saying they are challenging the withdrawal limits imposed by the CBN.
However, the seven-man
panel of the apex court directed the defendants to put their processes together
and that one counsel would lead them. The apex court made the decision so as to
save time.
But counsel for the plaintiffs (Kaduna, Kogi), told the court
that the federal government violated its first ruling on its exparte motion and
there was need for it to make fresh orders.
“My lord, we are talking
of a case of executive lawlessness, the orders of the court has been floated,”
the plaintiff counsel, Abdulakim Mustapha said.
But the AGF counsel, Kanu Agabi SAN urged the court not to be
inflamed by the plantiff’s arguments.
“My lord, I beg you,
rumors are out there against us, they are inflaming you against us,” Agabi
said.
“Learned counsel Mustapha and Agabi. I want to draw your
attention, Once you submit yourself to court, you have to wait. You are
reminded,” the panel said, advising the plaintiff to add the argument of
violating its orders to the amended processes that would be heard and argued on
the next adjourned.
Meanwhile, the panel led
by Justice John Okoro, advised federal government to reduce tension in the
country by making cash available.
“Are we not in this
country, bank staff have been jumping fense. We are humans. We pray that there
will be no break-down of law and order,” panel said.
“The plaintiff shall file its amended processes latest February
17. Defendants shall file its processes latest February 20. This suit is
adjourned to February 22 for hearing, the court added.
After the court rose, Agabi pleaded with Nigerians to be patient
with government. “It’s (naira swap) a national problem and we are trying to
solve it. With a little time, it will be solved,” Agabi said.
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