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- Pix(above, R-L): Emefiele, Malami and El-Rufai
The three aggrieved APC governors of Kaduna, Kogi and Zamfara States have initiated a contempt proceeding against the Attorney General of the Federation (AGF), Abubakar Malami and CBN Governor, Godwin Emefiele, for their refusal to comply with the Supreme Court order extending the deadline for the use of old N200, N500 and N1000 notes.
In the fresh application filed before the Supreme Court, the three states against the naira swap policy of the Federal Government – cautioned the AGF and Emefiele about the consequences of their continued refusal to comply with the apex court’s order made on February 8.
The two sets of Form 48, filed by the team of lawyers representing the three states, form part of the applications now awaiting the Supreme Court’s consideration when proceedings resume on Wednesday.
Recall that the Supreme Court had, on Wednesday, February 8, stopped the Central Bank of Nigeria (CBN) from withdrawing the old Naira notes from circulation as from February 10, as earlier proposed.
The apex bank’s ruling is in favour of a suit filed by Governors Nasir El-Rufai(Kaduna), Yahaya Bello (Kogi) and Bello Matawalle (Zamfara).
The three governors had, in an ex-parte motion before the court, sought temporary order to stop President Muhammadu Buhari administration and the CBN from continuing with the implementation of the naira redesign policy.
In the motion, the governors asked the court to declare that the demonetisation policy is a violation of the provisions of the Central Bank of Nigeria Act, 2007, the Nigerian Constitution and relevant laws.
They also want to declare that the three-month notice issued by the CBN with authorisation of the President, wherein the older versions of the denominations will lose their legal tender status is in flagrant violation of Section 20(3) of the CBN Act 2007, which states that reasonable notice must be given./SHARE THIS