The Supreme Court of Nigeria on Wednesday, fixed March 3 to deliver its judgement on the consolidated suit that states filed to set aside the decision of the Federal Government to ban the use of old N200, N500 and N1000 banknotes as valid legal tenders.
A seven-man panel of the apex court okayed the matter for judgement after all the parties adopted their briefs of arguments.
The Central Bank of Nigeria had redesigned the naira and made the old notes illegal as legal tender on the 10th of February 2023 leading to a law suit at Nigeria’s apex court.
It will be recalled that though only three northern states- Kaduna, Kogi and Zamfara- initially approached the Supreme Court to challenge FG’s decision, other states subsequently persuaded the Justice Inyang Okoro led panel to join them as interested parties in the matter.
The states the court joined as parties in the suit were: Lagos, Cross River, Ogun, Ekiti, Ondo, Sokoto, Abia, Jigawa, Kano, Rivers and President Muhammadu Buhari’s homestate, Katsina.
All the suits the apex court consolidated and heard on Wednesday, were marked: SC/CV/162/23, SC/CV/162/23, SC/CS/197/23, SC/CV/200/23, SC/CV/210, SC/CV/227, SC/CV/229/23 and SC/CV/222/23.