Naira Swap: AGF Asks Supreme Court To Dismiss State Governments’ Suit Challenging CBN’s Policy

The Attorney-General of the Federation (AGF), Abubakar Malami, on Wednesday asked the Supreme Court to dismiss a suit filed by three state governments challenging the naira redesign policy of the Central Bank of Nigeria (CBN).

In a preliminary objection filed by the AGF through his lawyers – Mahmud Magaji and Tijanni Gazali – the Federal Government argued that the Supreme Court lacks jurisdiction to entertain the suit.

In court filings dated February 8, 2023, the AGF contends that “the plaintiffs have equally not shown reasonable cause of action against the defendant.”
Citing grounds in support of the objection, they argue that the State Governments’ suit challenges the Federal Government through its agency, the CBN, to withdraw old banknotes from the financial system and introduce new ones.


“The claims or reliefs are not against the federation, but the Federal Government and its Agency, the Central Bank of Nigeria.

With reference to Section 251 of the Constitution, the defence lawyers argue that the suit falls within the exclusive jurisdiction of the Federal High Court in matters of monetary policy of an agency of the Federal Government.
“The claims or reliefs are not against the federation, but the Federal Government and its Agency, the Central Bank of Nigeria.

“The Federal Government of Nigeria is distinct from the Federation or the Federal Republic of Nigeria. The Plaintiffs have no grievance whatsoever against the Federation of Nigeria.

This suit has disclosed no dispute that invokes this (Supreme) Court’s original jurisdiction as constitutionally defined,” the AGF added.

Three state governments – Kaduna, Kogi and Zamfara – had sued the Federal Government over the naira redesign policy of the CBN.

In the suit filed on February 3, the states urged the Supreme Court to compel President Muhammadu Buhari, the CBN and commercial banks to rescind the February 10 deadline for the old N200, N500 and N1000 banknotes as Nigeria’s legal tender.

Ruling on an ex parte request by the plaintiffs, the Supreme Court, ordered the Federal Government to halt the implementation of the currency redesign policy pending the determination of the substantive suit.

https://www.google.com/amp/s/www.channelstv.com/2023/02/08/naira-swap-agf-asks-supreme-court-to-dismiss-state-governments-suit-challenging-cbns-policy/amp/

post=120746910:
Naira Swap: AGF Asks Supreme Court To Dismiss State Governments’ Suit Challenging CBN’s Policy

Governors are playing

News for news sake.......

Wetin dey happen for this country I no understand. The masses are suffering from this power tussle

Everything I said in my post reechoed here.

Supreme Court has no jurisdiction over this case. If the plaintiffs were serious, they know that the right place to institute the case is at the High Court.

What the lawyers of Kaduna, Kogi and Zamfara have done is abuse of court process.

Garfield1
Afamed

Hmmm

EXCLUSIVE: Supreme Court Order on Naira Irrelevant, Non-binding, February 10 Deadline Stays – CBN Legal Opinion

The Supreme Court ruling restraining the federal government from implementing the February 10, 2023 deadline phase out of the old N1000, N500, and N200 notes is irrelevant, non-binding and a distraction, according to a CBN legal opinion on the matter seen
“Neither the CBN nor deposit money banks were parties to the suit filed by three state governments (Kaduna, Kogi and Zamfara). The state governments simply took advantage of the fact that in matters purely between state and the FG, the Supreme Court can serve as the court of first and only instance. Joining the CBN in the matter would immediately rob the supreme court of jurisdiction,” the opinion said.

Only the CBN is empowered by Law to determine what is termed legal tender, not the Supreme Court.
The Attorney General of the Federation cannot issue a binding order on the apex bank governor or board as the CBN act didn’t contemplate such and the interim order is simply an academic attempt at grandstanding,” the opinion added.

This people should let Nigeria rest. This play of the giants

Let the game continue. Agbado urrchins go cry blood. Very useless things.. Let their god tinubu contest without buying votes,if he knows he is the Jagaban.

War start

post=120747194:
EXCLUSIVE: Supreme Court Order on Naira Irrelevant, Non-binding, February 10 Deadline Stays – CBN Legal Opinion

The Supreme Court ruling restraining the federal government from implementing the February 10, 2023 deadline phase out of the old N1000, N500, and N200 notes is irrelevant, non-binding and a distraction, according to a CBN legal opinion on the matter seen
“Neither the CBN nor deposit money banks were parties to the suit filed by three state governments (Kaduna, Kogi and Zamfara). The state governments simply took advantage of the fact that in matters purely between state and the FG, the Supreme Court can serve as the court of first and only instance. Joining the CBN in the matter would immediately rob the supreme court of jurisdiction,” the opinion said.

Only the CBN is empowered by Law to determine what is termed legal tender, not the Supreme Court.
The Attorney General of the Federation cannot issue a binding order on the apex bank governor or board as the CBN act didn’t contemplate such and the interim order is simply an academic attempt at grandstanding,” the opinion added.

How people like throwback, Seunmsg - who actually write proper English - are supporting Tinubu is beyond reason; it beggars belief! It just shows that education doesn't touch the inner recesses of the unrenewed heart of man.

Aren't the judiciary tasked with interpretation of the law

So it is hard to argue that the Supreme court has no jurisdiction over hearing a case that deals with the disputed interpretation of the law amongst the different branches of the Executive arm of government.

The Governors challenge the central bank that it has wrongly interpreted the law over the deadline set to stop the old Naira note as a legal tender, while the central bank in its opinion believe it has not wrongly interpreted the law.

It's only logical that the judiciary step in to rightfully interprete the law after hearing both sides of the argument.

The policy of introducing new naira note is very different from the Argument above.

GreyLaw:


How people like throwback, Seunmsg - who actually write proper English - are supporting Tinubu is beyond reason; it beggars belief! It just shows that education doesn't touch the inner recesses of the unrenewed heart of man.

They are urrchins.. They worship tinubu because of tribe,party affiliation and what they stand to gain from him.

Malami don win any case before?

Omo this is really the clash of the Titans.
Game of throne is being played here in Nigeria real life.
February 25th we'll give our verdict and all this nonsense will be laid to rest

Interesting

Penguin2:
Everything I said in my post reechoed here.

Supreme Court has no jurisdiction over this case. If the plaintiffs were serious, they know that the right place to institute the case is at the High Court.

What the lawyers of Kaduna, Kogi and Zamfara have done is abuse of court process.

Garfield1
Afamed

You are right! The constitution has empowered CBN on any decisions made with regards to monetary polices and any physical policies lies in the exclusive list of the executive arms, and as such, no court has jurisdiction to determine how things are run therein.

Penguin2:
Everything I said in my post reechoed here.

Supreme Court has no jurisdiction over this case. If the plaintiffs were serious, they know that the right place to institute the case is at the High Court.

What the lawyers of Kaduna, Kogi and Zamfara have done is abuse of court process.

Garfield1
Afamed

The dispute between different branches of the executive can be taken straight to the supreme court even in developed countries like America.

The Row vs Wade repeal

The Affirmative action repeal case still going on

If the action is deemed unconstitutional by the supreme court, it's reversed immediately.

vicdom:

You are right! The constitution has empowered CBN on any decisions made with regards to monetary polices and any physical policies lies in the exclusive list of the executive arms, and as such, no court has jurisdiction to determine how things are run therein.

if that's is the case.

The judiciary are still tasked with interpretation of the law.

The decision taken by CBN is not in the Exclusive list.

Nobody is above supreme Court

The court will hear the case on 15th February and adjourn for response of the prosecution to the submission of the respondent till February ending. Finally, judgement will be entered March ending. By then, even the CBN will no longer be interested in the Naira redesign as the political gain they intend to achieve would have been defeated. For now, old and new notes remains legal tender till February 15th.

seunmsg:
The court will hear the case on 15th February and adjourn for response of the prosecution to the submission of the respondent till February ending. Finally, judgement will be entered March ending. By then, even the CBN will no longer be interested in the Naira redesign as the political gain they intend to achieve would have been defeated. For now, old and new notes remains legal tender till February 15th.

Wailer

vicdom:

You are right! The constitution has empowered CBN on any decisions made with regards to monetary polices and any physical policies lies in the exclusive list of the executive arms, and as such, no court has jurisdiction to determine how things are run therein.

The apex court has attained jurisdiction already and its ruling must be obeyed

Opintiwa:


Wailer

I’m celebrating and not wailing. Wailing is for Obi supporters.

seunmsg:


I’m celebrating and not wailing. Wailing is for Obi supporters.

Vote out cocaine

Iamgrey5:
if that's is the case.

The judiciary are still tasked with interpretation of the law.

The decision taken by CBN is not in the Exclusive list.

Interpretation is different from making decisions for them. CBN and federal government didn't actually violate its own CBN acts and guidelines on legal tender change. They followed all the due process and timeline stated in the CBN act. I will quote you when the SC sends this case to the dustbin. The ruling of the court was an order of interim injunction, and not the main substance. The case would be heared on 15th, and I hope it's decided on that day without any form of adjournment.

Too late!

Opintiwa:


Vote out cocaine

Don’t vote for Ipob terrorist and religious bigot.

vicdom:

Interpretation is different from making decisions for them. CBN and federal government didn't actually violate its own CBN acts and guidelines on legal tender change. They followed all the due process and timeline stated in the CBN act. I will quote you when the SC sends this case to the dustbin. The ruling of the court was an order of interim injunction, and not the main substance. The case would be heared on 15th, and I hope it's decided on that day without any form of adjournment.

An adjournment is sure to happen...far beyond the elections...

Piiggiiddiiootts amaka

senatordave1:


The apex court has attained jurisdiction already and its ruling must be obeyed

The only ruling here is an experte order of interim injunction, the substance would be determined on the 15th, I will quote when the court sends this case to the dustbin. I pray the case is heared and determined on the same day, because I'm afraid, SC might want to reserve the ruling for another day after hearing it on the 15th.

seunmsg:


Don’t vote for Ipob terrorist and religious bigot.

No be me talk emilokan

Wailer

vicdom:

The only ruling here is an experte order of interim injunction, the substance would be determined on the 15th, I will quote when the court sends this case to the dustbin. I pray the case is heared and determined on the same day, because I'm afraid, SC might want to reserve the ruling for another day after hearing it on the 15th.

You dont need to quote me.I am not bothered about the correctness of the case but the intendment.it is intended to keep on hold the naira swap till after the polls and they will succeed