Afrigather Justice T. B Adegoke, of the Federal Excessive Courtroom (FHC), sitting in Akure, the Ondo state capital, has adjourned listening to in a go well with introduced towards the Central Financial institution of Nigeria (CBN) by a gaggle, Social Rehabilitation Grace and Supportive Initiative (SRG), difficult the CBN over the voiding of previous N500 and N1000 naira notes inside a interval thought-about too quick.
The courtroom, nonetheless, resolved to attend on the Supreme Courtroom.
On the listening to of the matter, the trial Decide, Adegoke, mentioned it was improper for her courtroom to begin trial because the go well with is much like the one pending earlier than the Supreme Courtroom, which is the very best courtroom within the land.
Counsel to the SRG, L.E Ukpabi-Owolabi, mentioned the group had introduced a movement on discover to amend its originating summons, and likewise a second movement on discover for interlocutory injunction.
However the counsel to the CBN, Aderemi Adekile, countered that the movement to amend the SRG’s movement was served on him 24 hours in the past, as towards 48 hours.
The Presiding Decide, nonetheless, in her ruling famous that as for SRG’s second movement for interlocutory injunction, the plaintiffs ought to await the decision of an identical case on the Supreme Courtroom, “because the Supreme Courtroom is already seized of the matter”.
Adegoke, who justified the necessity for her courtroom to attend for the result of the case between some state governments and the CBN cum federal authorities, over the vexed difficulty of the brand new Naira notes, mentioned “That’s the reason they’re Supreme Courtroom; it doesn’t imply they’re infallible however they’re the apex courtroom. Whether or not they’re proper or fallacious, I don’t wish to go any remark. So we wait”.
She subsequently adjourned the go well with to March 30, 2023, for listening to.
However the matter additionally raised some mud amongst legal professionals as a few of them queried the legality of the directive by President Muhammadu Buhari that solely the previous N200 notes needs to be retained until April 10, whereas the previous N500 and N1000 notes ought to stop to be authorized tenders; towards a short lived ruling of the Supreme Courtroom that the three previous notes ought to stay in circulation pending its verdict.
Recall that the SRG within the go well with had averred that the CBN acted past its energy by setting a timeline for the expiration of the previous naira notes.
