The Kano State Government has filed a lawsuit challenging the powers of President Muhammadu Buhari to single-handedly order the Central Bank of Nigeria to redesign the N200, and N1000 naira notes.
In the suit filed before the Supreme Court on Thursday, the Kano State Attorney General, through his lawyer, Sunusi Musa, SAN, argued that Mr Buhari cannot direct the CBN to recall the old N200, N500, and N1,000 banknotes without the approval of the Federal Executive Council and the National Economic Council.
The Kano government also prayed to the court to order the Federal Government to reverse the policy, saying that the policy has negatively impacted the economic well-being of over 20 million Kano citizens.
The lawsuit also sought a mandatory order to compel the Federal Government to reverse the naira redesign policy, alleging that it violates the 1999 Constitution.
Similarly, the applicant prayed the apex court to compel the Federal Government of Nigeria to reverse the cash swap policy for allegedly not complying with the 1999 constitution of the FRN and other extant legislation.
“A Declaration that on the combined reading of the provisions of Section 148(2) of the 1999 Constitution and Part 1, and Paragraph 19 of the Third Schedule thereof, the President cannot unilaterally, without recourse to the Federal Executive Council and National Economic Council respectively give approval to the Central Bank of Nigeria for the implementation of cash withdrawal limit pursuant to the demonetization economic policy of the Federal Government of Nigeria,” the suit read.
In the originating summon, the Kano government further prayed for a declaration that the president’s directive to the CBN for the implementation of cash withdrawal limits policy pursuant to the demonetisation of the Federal Republic of Nigeria without recourse to FEC and NEC respectively, is unconstitutional, illegal, null, and void.
The matter is scheduled for a hearing on Wednesday, February 15.