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Naira Redesign: Kano State Sues FG, Seeks Reversal

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The Kano State government has filed a suit at the Supreme Court seeking a reversal of the Central Bank of Nigeria’s naira redesign policy.

The PUNCH reports sighting the suit filed Thursday by the Kano State Attorney General, through his Counsel, Sunusi Musa (SAN).

The state is asking the apex court to declare that it is unconstitutional for President Muhammadu Buhari to unilaterally direct the CBN to recall the old N200, N500, and N1,000 notes without consulting with the Federal Executive Council and the National Economic Council.

It is seeking a mandatory order seeking a reversal of the federal government policy to recall the old notes from circulation.

The suit is similar to another filed by the Kaduna, Kogi, and Zamfara State governments at the Supreme Court.

In that case, the court restrained the federal government, the CBN, and money deposit banks from implementing the naira redesign policy and fixed a 15 February date for a hearing.


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