Supreme Court of Nigeria

The suspense over whether or not the old naira notes are acceptable legal tender has, for now, been put to rest. The Supreme Court today reiterated that its February 8 order barring the Federal Government and its agencies from enforcing the February 10 deadline for the use of old 200, 500 and 1000 naira notes still subsists.

This came up today lawyer to Kaduna, Kogi and Zamfara states, Abdulhakeem Mustapha (SAN) complained that the Fed Govt and its agencies “have failed to comply with the order and have allegedly directed the rejection of the old notes.”

“That order has been flouted by the government. We are talking of executive lawlessness here. We have filed an affidavit to that effect…We want the court to renew the order for parties to be properly guided.”

Justice John Okoro, who presided over a seven-member panel of the court, asked Mustapha to “file a proper application to put forward his complaints and to enable the respondent respond appropriately” adding that  there was no need for a renewal of the court’s order. Reason: Since the order made by the court on February 8 was made “pending the determination of the motion for injunctions filed by the plaintiff, the order still subsists since the motion was not yet heard.”

On 8 February, the Apex Court ruled: “After a careful consideration of this ex-parte application, and the grounds in support of same, this court finds that there is real urgency for this court to intervene by the grant of this application.

“Accordingly, this application is hereby granted as prayed.

“That is to say, an order of interim injunction restraining the Federal Government of Nigeria, either by itself or acting through the Central Bank of Nigeria (CBN) and/or the commercial banks, its agents; agencies, corporations, ministries, parastatals, organizations or through any person or persons (natural and artificial) howsoever, from suspending or determining or ending on the 10th of February 2023 the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender, pending the hearing and determination of the plaintiffs/applicants’ motion on notice for interlocutory injunction.”

However, the Supreme Court fixed February 22 for hearing.

The court chose the date after joining the Attorneys General of Katsina Lagos, CR, Ondo, Ogun, Ekiti and Sokoto states as co-plaintiffs in the earlier suit filed by Kaduna, Kogi and Zamfara states.

The court also joined the Attorneys General of Edo and Bayelsa states as co-respondents. Both states elected to side with the Attorney General of the Federation (AGF) originally listed as the sole respondent.

The court ordered that the suits filed by separately by Nasarawa, Rivers and Kano states on the same issue be consolidated with the one filed by Kaduna, Kogi and Zamfara states.

The court ordered parties to file all necessary documents before the hearing set for next Wednesday.

Justice Okoro, before adjourning, told lawyer to the AGF, Kanu Agabi (SAN) to advise his client to ensure the availability of currency for the people. “Tell your client to let people have money. If they go to the ATM and the plaintiffs will come and withdraw the case. Make money available to the poor masses.

“You should know that a hungry man is an angry man. I say no more,” he said