Happening Now: Supreme Court hears case on CBN’s Naira Swap Policy

The Supreme Court of Nigeria is presently filled to capacity with a retinue of Senior Advocates of Nigeria, other lawyers and the governors of Kaduna and Kogi states for the hearing of the substantive suit on the Naira swap policy of the Central Bank of Nigeria (CBN), according to a report of Channels Television 

Recall that at the last hearing, the Court had temporarily banned the implementation of the February 10 deadline of the CBN from making the old N200, N500 and N1,000 notes legal tender.

The Zamfara, Kogi and Kaduna states had instituted the suit against the Federal Government and the CBN.

Other states, namely Niger, Kano, Ondo, Ekiti, have also applied to be joined in the suit against the CBN and the Federal Government.

Court proceedings began with Justice John Okoro leading a seven-man panel.

He said the court should not lose sight of the case and its intention as it affects the suffering of Nigerians.

Lagos State, through its Attorney General, Moyosore Onigbanjo, also applied, seeking to be joined in the suit.

Bayelsa State, led by Damian Dodo, has also applied to be joined in the suit as a respondent. Similarly, Edo State applied to be joined as a respondent.

It is expected that at the end of the hearing, Nigeria’s will get a clear direction on the controversial development that has caused, not just a huge confusion but also hardship on Nigerians in all ramifications.

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