The implementation of the naira redesign has been challenged in a case brought by multiple state governments against the Federal Government.
The Supreme Court heard arguments from the plaintiffs and defendants in the case, which has been consolidated from ten separate suits.
At the last hearing, the court refused to join Abia State as a co-plaintiff, but ordered the consolidation of the ten suits into one. The plaintiffs are the Attorneys General of several states, while the defendants include the Attorney General of the Federation, Abubakar Malami, and the Attorneys General of Bayelsa and Edo states.
During the hearing, counsel for the Federal Government argued that the Supreme Court has no jurisdiction to hear the case as the reliefs sought are rooted in section 20 of the CBN Act and the action cannot commence with an originating summons. The counsel for Edo and Bayelsa States agreed that the suit should be dismissed for lack of jurisdiction.
However, the counsel for Rivers urged the court to grant all the reliefs sought therein.
The Attorney General of Kano State, who is a co-plaintiff, argued that President Muhammadu Buhari did not consult with the state governments as required by law and relied only on the advice of the CBN governor in the implementation of the monetisation policy.
The Attorney General of Jigawa stated that the President did not seek the advice of the Jigawa State governor as required by Section 148 of the constitution.
The court adjourned the case to March 3 for judgment.