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Nairaland Forum / Nairaland / General / Politics / New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN (59116 Views)
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Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 10:11pm On Mar 05, 2023 |
lexy2014: No, it did not…. The power of Judicial Review means that if the policy was not made in accordance with the law or constitution, the remedy to be provided to the courts is to throw it out. It is not to come up with alternative policy or to modify it according to what the justices’ preference. In effect, by substituting the President/CBN’s deadline with the Supreme Court’s December 31 date, what the justices have essentially done has been merely to SUBSTITUTE their own policy preference (ie, for a 10-month deadline extension) in place of that of the President/CBN who are constitutionally and statutorily with EXCLUSIVE authority over currency management (which of course is an integral part of monetary policy). It’s a slippery slope to Hades, and the courts are neither empowered or equipped to make such substantive policy choices. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 10:42pm On Mar 05, 2023 |
9jaRealist:According to you: "Why are "the law courts (including the Supreme Court) are neither empowered nor equipped to determine which policies of the executive branch are substantively ‘good’ or ‘bad'"? I asked...Where did you get that from? Was the policy made in accordance with the law or the constitution? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:16pm On Mar 05, 2023 |
lexy2014: You’re asking me to prove a negative… The courts are NOT empowered to do so, because that power is NOT provided in the Constitution. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:16pm On Mar 05, 2023 |
lexy2014: That’s a substantively different issue, where I also happen to think the Court was wrong (for example, the Constitution SPECIFICALLY enumerates the functions of the Council of State in Section 6(a) of Part I of the Third Schedule - and currency management was NOT one of the areas that the Constitution granted the COS advisory powers), but I do not even think we need to get there. Because even conceding (for argument’s sake) that the Court CORRECTLY held that the policy was NOT made in accordance with the law or the constitution, it is limited to NULLIFYING the law (or in certain exceptional cases, nullifying those aspects of the law in breach of the law or the constitution). It is NOT empowered (either by the Constitution or any law) to CHANGE OR REPLACE the policy. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by PARADIZEPRIEST: 11:16pm On Mar 05, 2023 |
MAY GOD ALMIGHTY FATHER PUNISH EMEFIELE WITH CURSES OF POVERTY,SO THAT HE CALL FEEL WHAT D MASSES FEEL ON STREETS LOOKING FOR CASH TO SURVIVE AMIDST UNRELIABLE CASHLESS POS ATM ETC POLICIES. 1 Like |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:22pm On Mar 05, 2023 |
lexy2014: The same reason the CBN cannot sit on legal issues brought before it… > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by dododawa1: 11:24pm On Mar 05, 2023 |
EMEFELIE your time is near, continue |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:30pm On Mar 05, 2023 |
streetfabulous: The Constitution specifically provides the powers (including advisory powers) of these bodies (see Part I of the Third Schedule) and there is NO such consultancy powers or requirement provided therein. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Asour: 11:50pm On Mar 05, 2023 |
9jaRealist: What you're saying it an interpretation. (Right or wrong). Where parties are at loggerheads about what is deemed right/legal, Courts come in. Interpretation not necessarily as a subject matter expert but to listen to aggrieved parties with a view to upholding justice — according to the law. Supreme courts all over the World (including Nigeria) have adjudicated on all sorts of matters for which they aren't Subject experts. |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Neye412(m): 12:34am On Mar 06, 2023 |
Odidigboigbo: There is no how the plaintiffs could have joined CBN and Emefiele in the suit but at large, the FGN in which the AGN must act accordingly. The Supreme Court stated in it ruling on the issue categorically that it has jurisdiction in the matter. The AGN will be committed to prison for contempt as well as the CBN which is an institution under the jurisdiction of the federal republic of Nigeria. Let’s wait and see how it unfolds in later days. |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Neye412(m): 12:41am On Mar 06, 2023 |
IfnobeGod20: The constitution empowers the Supreme Court to interpret the constitution on disputes especially between the FGN and states of the federation. However, on if the supreme can assume power in monitory issues of the CBN is subjective. Whatever policy formulated by the executive arm or it agencies that is consistent with provisions of the 1999 constitution can be declared ‘ultra vires’ by the court. That’s ‘rule of law’ that must be respected by all and sundry . |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 3:19am On Mar 06, 2023 |
9jaRealist: what reason is that? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 3:23am On Mar 06, 2023 |
9jaRealist: According to you: "Why are "the law courts (including the Supreme Court) are neither empowered nor equipped to determine which policies of the executive branch are substantively ‘good’ or ‘bad'"? I asked...Where did you get that from? Was the policy made in accordance with the law or the constitution? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 10:33am On Mar 06, 2023 |
lexy2014: From the constitution… You just seem to be going around in circles now. Nonetheless, the judiciary (just as the two other branches of government) derive their power from the constitution. Accordingly, they are NOT empowered to undertake functions that the constitution does not grant them the authority to, such as (in the instant case) CHANGE/REPLACE the President/CBN’s deadline with their own December 31, 2023 date. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 10:50am On Mar 06, 2023 |
lexy2014: Even if it was not… Courts are NOT empowered to REPLACE the policy with their own policy! PS: Meanwhile, even though I am reluctant to go down this road, suffice it to note that Part I of the Third Schedule of the Constitution, which created the Council of State (as well as the National Economic Council) SPECIFICALLY ENUMERATED the matters on which the Council has an advisory role, and currency management (nor monetary policy) was NOT among those. In contrast, the constitution and the extant law (specifically BOFIA) gives the President/CBN sole and exclusive powers over currency and monetary matters and policies. As citizens, we are bound to obey Supreme Court (and other court) orders, but that does NOT render their judgment infallible or beyond criticism. On the contrary, one of the duties/responsibilities of citizenship is to hold the authorities accountable. > 1 Like |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 10:54am On Mar 06, 2023 |
lexy2014: Because the CBN is neither empowered nor equipped to arbitrate over legal issues… It is a power reserved by the Constitution and extant law for other public institutions (the courts, etc.) > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:10am On Mar 06, 2023 |
Asour: NOPE! That Part I of the Third Schedule of the Constitution, which created the Council of State, SPECIFICALLY ENUMERATES the subject matters over which the Council has an advisory role (see Section 6(a)) is a FACT and NOT an opinion or “interpretation” Meanwhile, the issue that I raised has NOTHING to do with subject matter expertise but rather with the Court’s constitutional and/or statutory powers (yes, even the courts themselves are SUBJECT to constitutional/statutory LIMITATIONS). > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Asour: 11:23am On Mar 06, 2023 |
9jaRealist: What you call "Facts" mean nothing until interpreted. You're making an interpretation WHICH is a court's responsibility. The supreme Court rules on ALL matters under the sun. And Yes including the CBN. |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:44am On Mar 06, 2023 |
BreconHills: 1) It is CURRENCY MANAGEMENT (which in itself is part of overall monetary policy), which is constitutionally and statutorily reserved EXCLUSIVELY for the President and the CBN. Meanwhile, there are different tools of currency management and monetary policy. 2) The date here is NOT merely incidental but is actually integral to (in fact, at the very core of) the policy, and thus the Court is not empowered to SUBSTITUTE its own preferred date - because that is a REPLACEMENT of the President/CBN’s policy with its own. 3) No, the Court does NOT have the right to hear EVERY case brought before it. Although I believe that in this particular case the Court has properly exercised jurisdiction, but even the Supreme Court has constitutional LIMITATIONS on cases that it can hear. 4) Nonetheless, the issue here is not one of the Court’s power to hear the case but rather the proper exercise of such power. In that respect, the Court’s power of Judicial Review does NOT include the power to SUBSTITUTE its own monetary policy in place of the CBN’s. 5) Judicial tyranny is just as bad as executive tyranny (if not WORSE, because there’s often no other recourse thereafter). One of the core responsibilities of citizens is to interrogate and hold ALL public institutions (including the judiciary) accountable. TWO WRONGS DO NOT A RIGHT MAKE! If we’re ever to advance as a nation, we must do things (even RIGHT things) in the RIGHT manner. We cannot remain a nation of ANYHOWNESS (characterized by executive, legislative, judicial and even citizens LAWLESSNESS). > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 11:56am On Mar 06, 2023 |
Asour: Nope! What I call FACTS are exactly that - verifiable FACTS in and of itself! Different people can draw opinions and interpretations from FACTS but the FACTS themselves remain FACTS. That the Council of State is created in Part I of the Third Schedule of the Constitution is a verifiable FACT… That Section 6(a) of Part I of the Third Schedule SPECIFICALLY ENUMERATES its advisory role is a verifiable FACT. Based on the foregoing verifiable FACTS… Different folks (including the courts) can reach different opinions/interpretations, but the FACTS themselves remain UNCHANGED! PS: Furthermore, just as an aside. NOPE! The Supreme Court CANNOT rule “on ALL matters under the sun”… Even Supreme Court has LIMITATIONS on its powers. It is created by the Constitution and only derives its powers therefrom. > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Asour: 12:10pm On Mar 06, 2023 |
9jaRealist: Of course facts are facts. But FACTS mean nothing in and of themselves. For instance, The number '2' means nothing on its own. Its meaning derives from its interpreted context. Consequently, if the interpretations you've drawn from facts (in law) are different from what I have drawn from the same facts (in the same law), who helps to arbitrate? Isn't it courts? To the extent that ANYTHING in law (CBN or any other Acts) can be disagreed on, such a disagreement must be arbitrated by a law court. If I as a person have an issue with the CBN Can't I take them to court? Why not allow the court interpret whether or not I can take anything to it. Whether or not it can sit on a matter. Your verdict on whether a matter can/cannot be taken to the Supreme court is an OPINION in itself. Cheers. |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by kelspinall(m): 12:26pm On Mar 06, 2023 |
this country sef |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 2:17pm On Mar 06, 2023 |
Asour: Not to beat a dead horse, but… First, “hearing” and “ruling” are NOT synonymous terms. Accordingly, the statement that the Court cannot “rule on ALL matters under the sun” is empirical FACT… Which particular case the Court ends up hearing or ruling on is what’s an opinion/interpretation (of the Court). That’s a distinction with a difference! > |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Asour: 3:37pm On Mar 06, 2023 |
9jaRealist: Sure. But a court cannot rule WITHOUT hearing a matter. |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 8:55pm On Mar 06, 2023 |
9jaRealist: Where is it in the constitution that "the law courts (including the Supreme Court) are neither empowered nor equipped to determine which policies of the executive branch are substantively ‘good’ or ‘bad'"? Was the policy made in accordance with the law or the constitution? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 8:59pm On Mar 06, 2023 |
9jaRealist: What are the limitations on the powers of the supreme court in general and with regards this matter of cbn? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 9:01pm On Mar 06, 2023 |
9jaRealist: Was the CBN naira policy made in accordance with the law or the constitution? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by lexy2014: 9:06pm On Mar 06, 2023 |
9jaRealist: Why should the supreme court not be able to sit on monetary issues brought before it? |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Buhari4sale: 4:15am On Mar 08, 2023 |
0monnak0da: |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by Buhari4sale: 4:16am On Mar 08, 2023 |
0monnak0da: |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 0monnak0da: 7:02am On Mar 08, 2023 |
Buhari4sale: |
Re: New Naira Notes: We Have No Information On The Supreme Court Ruling - CBN by 9jaRealist: 1:47pm On Mar 08, 2023 |
lexy2014: Dude, English is not that difficult to comprehend… The Constitution AFFIRMATIVELY lists powers that is granted to different branches/bodies/etc.. Accordingly, if the Constitution does not grant you a power, it is perfectly valid to say that you don’t have such power. > |
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