BREAKING: Nigerians Defeat Buhari, Emefiele As Supreme Court Delivers Judgment On Cashless Policy Says Old Naira Notes Legal Tender Till Dec 31 2023
Supreme Court on Friday decided on the side of suffering Nigerians and invalidated the Buhari/Emefiele Cashless Policy.
The Supreme Court then ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023.
Supreme Court said all the three old Notes 200, 500 and 1,000 naira Notes remain legal tender until December 31 2023.
The apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution.
Justice Emmanuel Agim, who read the lead judgement, held that the preliminary objections by the defendants (the Attorney General of the Federation, Bayelsa and Edo states) are dismissed as the court has the jurisdiction to entertain the suit.
Citing Section 23(2)1 of the constitution, the court held that the dispute between the Federal Government and states must involve law or facts.
The apex court further held that President Muhammadu Buhari in his broadcast admitted that the policy is flawed with a lot of challenges.
The court said the policy has led to some people engaging in trade by barter in this modern age in a bid to survive. The court added that the President’s disobedience of the February 8 order, is a sign of dictatorship.
Sixteen states of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy.
The suit initially instituted by Kaduna, Kogi and Zamfara states has been slated as the first case on the cause list for a final verdict.
Justice John Inyang Okoro who led a seven-man panel of Justices of the Court had on February 22 fixed today for the court to make its decision known on the suit.
The 16 states led by Kaduna, Kogi and Zamfara are praying the apex court to void and set aside the policy on the ground that it is inflicting hardships on innocent Nigerians
They accused the President of usurping the function of the CBN in the introduction and implementation of the policy and asked that the directive issued by Buhari be voided.
Speaking to newsmen shortly after the court verdict, Governors Nasir El-Rufai and Yahaya Bello said though they are close allies of President Buhari, they decided to approach the court because they knew that CBN GOVERNOR, Godwin Ifeanyichukwu Emefiele, deceived Buhari with the policy.
The Supreme Court had early in the day shifted judgment delivery on the cashless policy suit against the Federal Government by an hour.
The judgment initially slated for 9 am would now be delivered by 10 am.
No reason was advanced for the sudden change in time but one of the Registrars of the Court announced that the Justices directed him to announce the shift in the timing.
Meanwhile, the governors of the three states that spearheaded the suit, Nasir Ahmad El-Rufai, Yahaya Bello and Bello Matawale of Kaduna, Kogi and Zamfara, respectfully, have stormed the Court to witness the proceedings.
Bello who first arrived at the Court was accompanied by a retinue of top government functionaries.
El-Rufai later joined him and was welcomed on arrival by some senior lawyers handling the suit for his side.
However, following the announcement on shift in time of judgment delivery, the three governors stepped into a secluded area to await the arrival of the Justices.
