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Supreme Court Temporarily Halts Banning Of Old Naira Notes - Business (9) - Nairaland

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Banks Begin Collection Of Old Naira Notes Despite CBN’s Denial Of Directive / FG Bows To Will Of The Supreme Court: Old Naira Notes Remain Legal Tender - FFK / Banks Will Accept Old Naira Notes After Deadline - Emefiele (2) (3) (4)

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Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by SunMusk(m): 12:49pm On Feb 08, 2023
So u want people to be killed and property destroyed bcs Tinubu wants to buy votes?? I don't know how people think. The policy is a failure bcs thy CBN refused to follow it own policy, while can ordinary citizens withdraw the Daily 20k the cbn stipulate?? Have you asked urself that question?? Just common 20k you can't withdraw from the bank you ask people to bring their old notes and refuse to give them new ones......let the cbn addressed their own problem, then will can know is the Commercial banks that is stop them. But the banks don't even have money. Cbn told us thy use billion of naria to print this new notes where is the money printed.... So you re calling a policy where ordinary citizens can't withdraw money bcs politicians who are going to still buy vote no matter what good
Ruggedniggaone:
Supreme Court dey play, buhari will not take them seriously. who in his right sense will believe that Supreme Court will do justice to any matter after affirming Lawan fake victory,no arms of govt or govt agencies can't be influenced by tinubu drug money and apc govs looted funds

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by soojar(m): 12:51pm On Feb 08, 2023
Kentuforchrist:
As of buhari will obey

APC propaganda machinery is top notch.

They are using what is called reverse psychology on you people.
This is when you will see "saint" Buhari being a democrat and obeying supreme court order. The same Buhari that has been raising Tinubu's hand since after he was "abused" by the same Tinubu?

PDP just unknowingly played into their hands.
If you know, you know.



We learn everyday.

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by TAYO124: 12:58pm On Feb 08, 2023
This article shared by seun osewa should have originally been taken seriously by any who read it. Believe in Nigeria to your peril.
Click that link to read through.







www-nairaland-com.0.freebasics.com/7541523/cbns-naira-redesign-policy-charade?iorg_service_id_internal=1646953538912597">https://https-www-nairaland-com.0.freebasics.com/7541523/cbns-naira-redesign-policy-charade?iorg_service_id_internal=1646953538912597%3BAfqdigMmQSCLsUjS#120384705
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by BreconHills(m): 12:59pm On Feb 08, 2023
Joevics:
This current crop of justices needs to be investigated and removed. How can a case be move to the supreme court directly?

And stop quoting me when you don't understand the law.

Section 230 to 236 of the 1999 constitution of Nigeria mimpacts all about the Supreme Court.

However, section 232(1) specifically provides that “THE SUPREME COURT SHALL, TO THE EXCLUSION OF ANY OTHER COURT, HAVE ORIGINAL JURISDICTION IN ANY DISPUTE BETWEEN THE FEDERATION AND A STATE OR BETWEEN STATES


This is not new.

Let's just rewind to 1979 when the Nigerian Supreme Court ruled that Shagari's NPN had won over Awolowos UPN using a very debatable 12 and two thirds formula declared Shagari the winner.

In 2000 in the US the SC allowed the certification of results to stand handing Bush the Presidency by just one electoral seat when Gore had the larger number of votes cast.

So I don't understand this issue of politization of the judiciary. It is the function of the judiciary to hear cases brought before it By states or by the FGN against a state or vice versa. Whatever those cases may be. We cannot call it something when the ruling is in our favour and then call it something else when it is against us.

Nigerians are so hypocritical. When a mere FHC judge overuled a Presidential executive decision nobody shouted that the court was getting into politics.

Until we remove the blinkers of party politics and ethnicity, we are doomed as a nation. The new generation is no different to the old generation they say caused their personal problems in life.

2 Likes

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Fiscus105(m): 1:00pm On Feb 08, 2023
Advocate500:
nobody will take supreme Court serious,the order of federal high court have not been vacated by any court, supreme Court are making caricature of our justice system.



Yet person like you would still come here to brag that girls can't hold meaningful discussion, that they dnt have brain.


I pity ur empty head
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Bonnyfaith4real: 1:01pm On Feb 08, 2023
Supreme court judgement... Big disappointment to the Masses.

I beg the apex court to strive and dispense judgement for the interest of our nation's economic and political revival.
Even an elementary economist knows that too much money in circulation causes inflation, I'm sure the policy was brought up to revive our nation's economic future but our greedy politicians and looters are seems to be prevailing via supreme court judgement.

Together we shall succeed @PVC
I stand with the CBN policy.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Jogs1900: 1:03pm On Feb 08, 2023
maasoap:


Zombiedients seriously believed that the pain of no cash and fuel was the best policy from Buhari. That's because they have illusion that it clips Tinubu’s wing
Is this not among the reasons they are called zombedients?

2 Likes 1 Share

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Joevics(m): 1:03pm On Feb 08, 2023
BreconHills:


The supreme Court in any country takes decisions that impact politics. This is because as the apex court and as the final arbiter it must hear cases brought before it. Under the Nigerian constitution.and the Electoral Act it is the Supreme Court that has the final say.

This is not new.

Let's just rewind to 1979 when the Nigerian Supreme Court ruled that Shagari's NPN had won over Awolowos UPN using a very debatable 12 and two thirds formula declared Shagari the winner.

In 2000 in the US the SC allowed the certification of results to stand handing Bush the Presidency by just one electoral seat when Gore had the larger number of votes cast.

So I don't understand this issue of politization of the judiciary. It is the function of the judiciary to hear cases brought before it. Whatever those cases may be. We cannot call it something when the ruling is in our favour and then call it something else when it is against us.

Nigerians are so hypocritical. When a mere FHC judge overuled a Presidential executive decision nobody shouted that the court was getting into politics.

Until we remove the blinkers of party politics and ethnicity, we are doomed as a nation. The new generation is no different to the old generation they say caused their personal problems in life.
The national assembly recently gave the CBN the independence to regulate the fiscal space via the CBN act. This is like going to the supreme court to stop the actions of the Efcc chairman, even though he's not independent.
If you want to challenge the CBN policy, you go to the federal high court. Stop quoting rubbish.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by BreconHills(m): 1:06pm On Feb 08, 2023
Advocate500:
nobody will take supreme Court serious,the order of federal high court have not been vacated by any court, supreme Court are making caricature of our justice system.

Section 230 to 236 of the 1999 constitution of Nigeria describes the jurisdiction of the Supreme Court.

However, section 232(1) specifically provides that “THE SUPREME COURT SHALL, TO THE EXCLUSION OF ANY OTHER COURT, HAVE ORIGINAL JURISDICTION IN ANY DISPUTE BETWEEN THE FEDERATION AND A STATE OR BETWEEN STATES.

This is a matter between states and the FGN and therefore the Supreme Court is a court of first instance. The f**ls that went to the High Court are obviously incompetent lawyers else they would have known that in matters between states and the FGN the matter starts and ends in the Supreme Court. Awon olodo.

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Advocate500: 1:08pm On Feb 08, 2023
Fiscus105:




Yet person like you would still come here to brag that girls can't hold meaningful discussion, that they dnt have brain.


I pity ur empty head
oga you can wail for all I care, buhari will not pay attention to a purchased judgement, court have been issueing judgement how many of such judgement have been respected by buhari led administration,this will not be an exception, APC are compounding their case with the presidency.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by MartinsD12(m): 1:10pm On Feb 08, 2023
lexy2014:


Look at what you are saying.: "CBN distributed , even banks sold to some business men POS operators"

Later you said "even POS don't have the new money"

New naira notes in short in supply full stop.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by BreconHills(m): 1:12pm On Feb 08, 2023
Joevics:

The national assembly recently gave the CBN the independence to regulate the fiscal space via the CBN act. This is like going to the supreme court to stop the actions of the Efcc chairman, even though he's not independent.
If you want to challenge the CBN policy, you go to the federal high court. Stop quoting rubbish.

I am glad you said I am speaking rubbish. So I want you to judge what you have just said against the Constitution of the FRN

Section 230 to 236 of the 1999 constitution of Nigeria mention all about the Supreme Court.

However, section 232(1) specifically provides that “THE SUPREME COURT SHALL, TO THE EXCLUSION OF ANY OTHER COURT, HAVE ORIGINAL JURISDICTION IN ANY DISPUTE BETWEEN THE FEDERATION AND A STATE OR BETWEEN STATES

Just because some olodo's went to the high court does not mean that states have to follow their error. The action of the states was the correct reading of the constitution.

So please judge what you have written. Rubbish or what?

The law is clear states vs states or states vs FGN starts and finish in the Supreme Court.

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Advocate500: 1:13pm On Feb 08, 2023
BreconHills:


Section 230 to 236 of the 1999 constitution of Nigeria describes the jurisdiction of the Supreme Court.

However, section 232(1) specifically provides that “THE SUPREME COURT SHALL, TO THE EXCLUSION OF ANY OTHER COURT, HAVE ORIGINAL JURISDICTION IN ANY DISPUTE BETWEEN THE FEDERATION AND A STATE OR BETWEEN STATES.

This is a matter between states and the FGN and therefore the Supreme Court is a court of first instance. The f**ls that went to the High Court are obviously incompetent lawyers else they would have known that in matters between states and the FGN the matter starts and ends in the Supreme Court. Awon olodo.
oga CBN is an independent body,they are only answerable to the executive,in this case Mr President, issue of monetary policy can only be resolved by the executive arm of the government.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by telleyway: 1:15pm On Feb 08, 2023
SpecialAdviser:
Criminal collaborators. Corruption will fight back but we will come out victorious surely.

Where was supreme court when APC injected billions of naira into currency change? Is the money a waste now? Why being reactive rather than being proactive?

APC, Party of forward and backward. To think this is a party where more than hundred people easily purchased presidential form for 100million will leave you speechless.

I can bet with anyone that cbn will not obey this order and here are my reasons:

(1) up till now the old notes are valid legal tender but people are crying up and down that there's no money.
(2) where's is the supposed old notes they are talking about? The ones the stock piled? Because both old and new notes are not available.
(3) CBN is permitted by law to make policies and regulate circulation of money independently
(4) will surely relax this policy but only after elections just mark my words.

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Gandrova: 1:16pm On Feb 08, 2023
jyz200:
Will buhari obey court order
He has no choice.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Gandrova: 1:19pm On Feb 08, 2023
donphilopus:
El Rufai organized a meeting in Kaduna yesterday and urged the people to continue using the old naira notes. He told them Tinubu would review the policy when he wins but people thought he was kidding. Now I see.

Kogi, Zamfara and Kaduna which made this move are all states governed by APC. We now know the party that has the interest of the common man at heart. This thing would pain those who thought they could win elections by inflicting pains on the masses.

God bless incoming President Asiwaju Bola Ahmed Tinubu.
I may not like some of El- Rufai's policies or actions, but he is a man of his words. Working with a visionary man like Jagaban you have to look beyond now.
God bless them for the bold steps taken.
Lastly, con head fellows would not be happy with this great news grin

2 Likes

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Fiscus105(m): 1:20pm On Feb 08, 2023
Advocate500:
oga you can wail for all I care, buhari will not pay attention to a purchased judgement, court have been issueing judgement how many of such judgement have been respected by buhari led administration,this will not be an exception, APC are compounding their case with the presidency.



Indeed you are satanic advocate.

Ofcource, wailing, lamentation and complaining are part and parcel of devil like.

Though, I dnt blame you o, cos it's ur parents that are feeling the brunt.


When you grow older to fend for urself, you will understand better.

Meanwhile, I will admonish you not to get heart attack if Tinubu eventually swear in and if you die, ....................food not even enough before Sha.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by soojar(m): 1:23pm On Feb 08, 2023
Joevics:

You also need to learn.

Sir, you are quoting a thread by someone who is probably as naive, I am telling you what the constitution says. Matters between state and federal governments are only settled in supreme court.

Nothing concerns the state governors with CBN as they can't give it directives, it is the FG that will instruct the CBN to obey court order.

I also try to learn new things everyday, so if there is any authentic contrary fact to the above, I'm ready to learn.



We learn everyday
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Jogs1900: 1:28pm On Feb 08, 2023
Mcval:
You have misfired! The Supreme Court has no Jurisdiction in this matter and it will be set aside in the next few days. Stop misleading people.
Is it the high court that will set it aside?This is law...No lower court counter rules supreme court case not even supreme court itself.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by BreconHills(m): 1:30pm On Feb 08, 2023
Advocate500:
oga CBN is an independent body,they are only answerable to the executive,in this case Mr President, issue of monetary policy can only be resolved by the executive arm of the government.

Bros where there is a dispute between states and the FGN, the Supreme Court has exclusive jurisdiction. It matters not a jot who is also a party to the suit. The Constitution of Nigeria is high than the Banking Act.

How difficult is this to understand?

By your own premise, the President should not have heeded the high court decision brought by political parties stopping him from reviewing an executive decision.

Sometimes it is better to let your opponent move first then use his own momentum against him.
The moment those northern states filed that suit, it was game over. They obviously have better lawyers than those political parties put together.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Clevite(m): 1:31pm On Feb 08, 2023
Joevics:
This current crop of justices needs to be investigated and removed. How can a case be move to the supreme court directly?

And stop quoting me when you don't understand the law.
Both you and the person that calls himself the Great Oracle whose tweet you're quoting are both ignorant of the law. Saying that the Supreme Court is not the proper court to start or to adjudicate this matter is a serious manifestation of lack of knowledge of the law on your part.

And it is obvious that you're not ready to learn, despite quite a number of people that have corrected you that the Supreme Court is the only and proper judicial authority with the jurisdiction to entertain any suit involving State Governments and Federal Government. Yet, you're not satisfied but still went ahead to quote the tweets of a fellow ignorant person in a matter of law both of you know nothing about. It's not a good thing to allow your emotion to dictate to you on issues.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Minjim: 1:39pm On Feb 08, 2023
edlion57:
These governors are our problems,they are fighting us in the name of working for us

I compare you to drowning dog that keeps barking at someone that wants to save it.

Even if the policy was aimed at corrupt politicians, the fact that it is affecting the masses more calls for it to be modified - why the rush?

There are procedure in the CBN act for policies like this. Emefiele should obey the CBN act
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by quinox947: 1:39pm On Feb 08, 2023
In Nigeria, the Supreme Court is only but just a name. All the judges are stinkly corrupt. No wonder Lawal got a favourable judgement.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Rubbiish(m): 1:47pm On Feb 08, 2023
Image123:
Do i understand why PDP and LP supporters and their candidates prefer the suffering and chaos of many to this judgment?
Because they clearly have no cash stashed somewhere for vote buying. Why is it that only APC members & governors are against this policy? Months of ASUU strike & fuel scarcity they didn't head to court, just few weeks of naira change, they are already in court. Are u telling me the governors are suffering the scarcity? When did they start suddenly caring so much about the common man? We all know the reason for all these moves...Except u choose to lie to yourself
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Jessewizy(m): 1:52pm On Feb 08, 2023
Indispensable85:



You can't even hide your tears. They're bound to obey the order or land in prison especially Emiefele. Bloody bigot
This fool. My Posts are not for worthless animals like you.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Khallicopyro: 2:04pm On Feb 08, 2023
Question is; will Buhari obey this order? In his mind it's just like old times. The constitution suspended. But for once in this herculean 8 years I want him to disobey a court order. In fact send EFCC after those judges
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by naijainstinct: 2:06pm On Feb 08, 2023
Clevite:

It is a case of State Governments versus Federal Government. Supreme Court is the only Court to hear the case.
Don't mind these half-baked legal luminaries wannabe.

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Deepthoughts: 2:14pm On Feb 08, 2023
Clevite:


Source https://www.thisdaylive.com/index.php/2023/02/08/supreme-court-temporarily-halts-banning-of-old-naira-notes/


The whole fault lies squarely on buhari,he should have known that those going to be pained by the currency redesign would definitely fight back n so he should have prepared to be firm and decisive but he failed,when it was clear that the banks were been use to sabotage the policy he couldn't put his foot down, I'm sure when the APC governors were cooking up the plans to derail the policy using the supreme Court buhari knew nothing about it,now people are wrongly blaming the CBN governor who has all along explain everything to buhari n got his approval before going ahead, it's clear that the Hawks in APC know very well that they can always outsmart buhari n have their way for their selfish interests,a Chinese philisopher once said"To be a good leader,one need to have the heart of a lion n the intelligence of a fox" it's doubtful if the president has any.
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Kiddogarcia(m): 2:15pm On Feb 08, 2023
MyVILLAGEpeople:


So you prefer the masses to continue to suffer because of this new CBN monetary policy that isn't feasible in our current dispensation.


Not feasible,I agree.
But in real sense what's the feasibility after spending huge money to bring in this new note.
Are we to abandon the real motive behind this cash policy all of a sudden.
We are in it already,let's just move with it to the very end,I thought we all agreed this will help in making the elections more fairer,why are we backing out.
Na we be your best plug for everything Sexual enhancement
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Barywhyte(m): 2:19pm On Feb 08, 2023
Indispensable85:


In issues between state and federal government it's directly to the supreme court. Also with interpretation of laws made by national assembly. Also in cases of institution vs institution., State vs state

Thank you!

1 Like

Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by Clevite(m): 2:33pm On Feb 08, 2023
Advocate500:
to start with, when it comes to monetary policy,the CBN are independent,they are only answerable to the executive which is Mr President.


How can a case jump to supreme Court without going through the lower court? This are excise in futility.
The court, and in this case the Supreme Court, has power and jurisdiction to adjudicate on any matter, whether monetary policy of the CBN or any policy of the Government, so far the policy or the action of Government touches on any person or Authority who reasonably believe their right or interest is affected.

There is no institution or agency of government that is so independent to the extent that its functions or activities are not subject to judicial review.

The CBN is a creation of the law, so it is subject to the jurisdiction of the court of law. Because the CBN is "answerable" to the President is the reason why the President/Federal Government was sued through the Office of the Attorney General of the Federation in this suit.

And because it was some State Governments that sued, that is why the Supreme Court is the right place to go straight. It is the law that disputes between the State Government and the Federal Government can only be entertained by the Supreme Court. No lower court has jurisdiction over such suit.

Going to the Supreme Court straight is not an exercise in futility. May I even ask you, which court has the temerity to declare the proceedings or order of the Supreme Court an exercise in futility?
Re: Supreme Court Temporarily Halts Banning Of Old Naira Notes by LordAdam16: 2:34pm On Feb 08, 2023
baralatie:

Is it not you again?
Let us see how this drama will end

How it ends is immaterial to the obvious fact that Buhari has ignored court orders and can ignore this court order.

Buhari is a complete failure, so I have no faith in his abilities on ANYTHING.

-Lord

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