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The Kano State Authorities on Thursday night filed a go well with towards the Federal Authorities on the Supreme Courtroom in respect of the naira redesign coverage of the Central Financial institution of Nigeria.
In go well with quantity: SC/CS/200/2023, sighted by The PUNCH, the Kano State Lawyer Common, by way of his Counsel, Sunusi Musa, SAN, is asking the apex court docket to declare that the President, Main Common Muhammadu Buhari (retd.), can’t unilaterally direct the CBN to recall the now-old N200, N500 and N1,000 banknotes with out recourse to the Federal Govt Council and Nationwide Financial Council, respectively.
The Kano authorities is praying a compulsory order searching for a reversal of the Federal Authorities coverage to recall the N200, N500 and N1,000 notes from circulation as a result of coverage affecting the financial well-being of over 20 million Kano residents.
The applicant can be searching for for necessary order, compelling the Federal Authorities to reverse the naira redesign coverage for alleged failure to adjust to 1999 Structure (as amended).
The applicant is equally praying for necessary searching for the apex court docket to compel the Federal Authorities to reverse the money swap coverage for allegedly not complying with the 1999 structure and different extant laws.
“A Declaration that the mixed studying of the provisions of the part 148(2) of 1999 structure and Half 1, and Paragraph 19 of the Third Schedule thereof, the President can’t unilaterally with out recourse to the Federal Govt Council and Nationwide Financial Council respectively give approval to the Central Financial institution of Nigeria for the implementation of money withdrawal restrict pursuant to the demonetization financial coverage of the Federal Authorities of Nigeria,” the go well with learn.
Within the originating summon, the Kano State Authorities, additional prayed for a declaration, that the president’s directive to the CBN for the implementation of money withdrawal limits coverage pursuant to the demonetisation of Federal Republic of Nigeria with out recourse to FEC and NEC respectively is unconstitutional, unlawful null and void.
The applicant can be praying for a compulsory order reversing the coverage of the Federal Authorities on the recall of the previous foreign money notes for allegedly failure to adjust to the provisions of Constituiton and different extant laws.
Recall that on Wednesday, the Supreme Courtroom gave an interim order to the CBN to not finish the usage of previous naira notes on February 10, 2023 in an exparte utility by the three applicant states together with Kaduna, Kogi and Zamfara.
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