The states, in the suit, are arguing that the implementation of the CBN’s Naira swap policy has caused untold hardship for Nigerians.
Recall that on February 8, the Supreme Court restrained the CBN from giving effect to the February 10 deadline on the use of the old N200, N500, and N1,000 notes, following an ex parte application brought by the three states.
The CBN has, however, gone ahead to enforce the deadline and implement a directive by President Muhammadu Buhari to recirculate only the old N200 notes for a 60 day period.
Malami who is the sole respondent, had, however, filed a preliminary objection to the suit, arguing that the Supreme Court lacks the jurisdiction to entertain the matter.
He also said the plaintiffs failed to join the CBN in the suit, which has just the AGF as sole plaintiff.
Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states have joined the suit as co-plaintiffs, while Edo and Bayelsa states have joined the AGF as defendants.
In the fresh documents filed before the apex court on Tuesday, the three states –Kaduna, Kogi and Zamfara — cautioned the AGF and Emefiele about the consequences of their continued “failure” to comply with the apex court’s order made on February 8.
The two sets of Form 48, filed by the team of lawyers representing the three states, formed part of the applications now awaiting the Supreme Court’s consideration when proceedings resume on Wednesday.
