Naira Swap Policy: Supreme court adjourns case till Feb 22


The Supreme Court of Nigeria Wednesday, adjourned the case instituted by some states against the Federal Government and the Central Bank of Nigeria over the CBN’s naira swap policy till February 22 for further hearing.

The suit initially instituted by Zamfara, Kogi, and Kaduna states, has been joined by Niger, Kano, Ondo, Ekiti, Lagos, Bayelsa, and Edo states.

At the last hearing, the apex 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.

But the CBN went on with its February 10th deadline, promoting more states to join in the suit.

Justice John Okoro who led the seven-man panel pointed out that the court should not lose sight of the case and its intention as it affects the suffering of Nigerians.

The court then adjourned till Wenesday, February 22 for hearing of the consolidated suits by 10 states.