A Senior Advocate of Nigeria (SAN), Mike Ozekhome, says the Supreme Court has yet to take a decision on the Central Bank of Nigeria (CBN) policy that stipulates a February 10 deadline for old N200, N500 and N1,000 banknotes.

This comes after a seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling on Wednesday, granted an interim injunction restraining the Federal Government from implementing the CBN’s ultimatum.

The judgement followed a motion ex-parte on behalf of three northern states – Kaduna, Kogi and Zamfara – filed on February 3rd, by their lawyer, AbdulHakeem Mustapha (SAN), praying the apex court to halt the CBN naira redesign policy.

But Ozekhome, in live appearance on The 2023 Verdict, Channels Television’s special election programme, clarified that the judgement was not a conclusive stance on the CBN’s currency swap policy.

“The Supreme Court has not decided the matter. All it has done is to fall back to a decision like Kotoye v. CBN, that in matters of extreme urgency, you can grant an interim order, even if it be ex parte, to prevent the subject matter of the suit being truncated.

“If, for example, the Supreme Court, did not make that order, and the only order existing is that of the High Court, it means that the CBN, by 10th of this month, will stop the use of all old notes.

“But what the Supreme Court has said is, ‘Just wait, let us listen to you people,’ not that it has decided that Zamfara, Kogi and Kaduna states have any valid case that is actionable because the action is already being challenged with a preliminary objection.

“It is another way of saying, ‘Let us first drive away the fox before we blame the fowl for wandering too far into the forest,’” he said

babyfaceafrica:
This one no get sense

Jflex07:
You get sense pass am? Wetin be your work? Who you be? Who sabi your papa self? You just dey follow tilumbu for nyash.

yarimo:
Mumu lawyer, very simple you can spend your old naira till court ruled other Wise. Speaking long thrash to look smart

AtikuOkowa:


Cry me a river

If you like,do not go and change.

Election will hold amidst cashless policy

The judge himself if he do gra-gra,he will be thrown away for curruption

yarimo:
So said election won't hold ? It's getting clear day by day aso rock is no go area for OBI. Confused set of IPOB criminals

CyynthiaKiss:
I dont know what Tinubu supporters are really celebrating

There would be hearing on 15 of Feb, thereby aggravating the situation of those that are still hoarding old notes even when they all have enough time to deposit everything in the bank..

Tears go full GP tank that day..
Emefele won't succumb to any pressure because he has the backing of the presidency..

Oh, some of you think that they didn't know there would be pressure from different angles before they took this decision ?

THEY ARE WELL PREPARED FOR EVERYTHING THAT MIGHT SERVE AS A STUMBLING BLOCK TO THIS POLICY .

TAKE IT OR LEAVE IT

babyfaceafrica:
This one no get sense

yarimo:
So said election won't hold ? It's getting clear day by day aso rock is no go area for OBI. Confused set of IPOB criminals

Telekinetic:

Afon.já Mozulem pig swerved from an Atiku supporter and went straight for Obi. Wetin Fulani slavery go do una ehn! Walking barfbags 🤮

CyynthiaKiss:
I dont know what Tinubu supporters are really celebrating

There would be hearing on 15 of Feb, thereby aggravating the situation of those that are still hoarding old notes even when they all have enough time to deposit everything in the bank..

Tears go full GP tank that day..
Emefele won't succumb to any pressure because he has the backing of the presidency..

Oh, some of you think that they didn't know there would be pressure from different angles before they took this decision ?

THEY ARE WELL PREPARED FOR EVERYTHING THAT MIGHT SERVE AS A STUMBLING BLOCK TO THIS POLICY .

TAKE IT OR LEAVE IT

babyfaceafrica:
This one no get sense