AGF asks Supreme Court to dismiss state govts’ suit challenging CBN’s Naira re-design policy


The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has 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.

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In a preliminary objection filed by the AGF, the federal government is urging the dismissal of the suit on grounds that the Supreme Court lacks jurisdiction to entertain the suit.
In the suit, the AGF contends that the plaintiffs have equally not shown the reasonable cause of action against the Minister, and therefore urged the court to strike out the suit for want of Jurisdiction.
The AGF in the suit, while citing section 251 of the Constitution, averred that the defence lawyers’ argument falls within the exclusive jurisdiction of the Federal High Court in matters of monetary policy of an agency of the federal government.
Kaduna, Kogi, and Zamfara states instituted a suit against the federal government before the Apex court urging the court to grant them an interim injunction stopping the FG and the CBN from ending the validity of old N200, N500, and N1000 denominations on February 10, 2023.
Ruling on the motion the Supreme Court temporarily suspended the move by the Federal Government and the Central Bank Of Nigeria to ban the use of the old naira notes from February 10, 2023.

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