Governor Muhammad Badaru Abubakar of Jigawa State has described the Supreme Court judgment restraining the Federal Government from implementing the February 10 Deadline of the old naira notes to stop being legal tender as a welcome development.
A statement by Habibu Nuhu Kila, the Special Adviser on Media and Public Relations to the governor said Mr Badaru made the remarks in an exclusive interview with Hausa Service of the Voice of America.
Governor Badaru said economic activities in the country were almost in a state of collapse as a result of the current situation. He stated that with the judgment of the apex court people can now transact their normal business with both old and new naira notes.
The Jigawa governor called on the Central Bank of Nigeria (CBN) to as a matter of urgency make sufficient amounts of the new naira notes available to the public in order to alleviate the current hardship in the country.
The Supreme Court on Wednesday ordered the CBN not to end the use of old naira notes on 10 February.
According to News Agency of Nigeria (NAN) reports, a seven-member panel of the court, led by John Okoro, gave the order of interim injunction amid acute scarcity of newly redesigned N200, N500, and N1,000 currency notes.
The court gave the order temporarily, cancelling the CBN’s 10 February deadline to end the validity of the old versions of the banknotes based on an ex parte application filed by three northern states being controlled by the All Progressives Congress (APC).
The presidential candidate of the APC, Bola Tinubu, had also publicly criticised the policy during a campaign stop.
The applicants, on 3 February, filed their application at the Supreme Court praying for an order to restrain the CBN from ending the use of the old currency notes on 10 February as threatened by the bank.
They cited the sufferings the scarcity of the new bank notes had brought upon many Nigerians.
The application, being ex parte, was not served on the Attorney General of the Federation who is sued in the case as the representative of the Federal Government.
Only the applicants’ lawyer, Abdulrakeem Mustapha, a Senior Advocate of Nigeria (SAN), was heard by the court.
Mr Okoro, after listening to the applicants’ lawyer Wednesday morning, granted the application “as prayed, ” a decision he said his panel took after “a careful consideration”.
He issued an order of interim injunction “restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on 10 February, the time frame within which the now older version of the 200, 500 and 1,000 denominations of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
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