Naira swap: ‘We won!’ Fani-Kayode celebrates as FG bows to S’Court
The Director, New Media of the All Progressives Congress (APC) Presidential Campaign Council, Femi Fani-Kayode has celebrated the Federal Government’s decision to honour the Supreme Court’s ruling on Naira swap.
Recall that the former Minister had earlier hailed the Chief Justice of the Federation (CJN); Justice Olukayode Ariwoola Governors Yahaya Bello (Kogi State), Nasir El-Rufai (Kaduna State) and Bello Matawalle (Zamfara State) over the Supreme Court’s judgement asking the Federal Government and Central Bank of Nigeria (CBN) to suspend implementing the February 10 deadline of the old 200, 500 and 1000 naira notes to stop being legal tender.
Three Governors on behalf of their states had in a motion ex-parte filed on February 3rd, by their lawyer, AbdulHakeem Mustapha (SAN), prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy.
A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The court further held that the FG, CBN, commercial banks must not continue with the deadline pending the determination of a notice on notice on in respect of the issue on February 15.
The Minister of Justice and Attorney General of the Federation, on Friday said the Federal Government will obey the Supreme Court ruling.
Malami, who spoke in an interview on Arise TV, said the Federal Government was hopeful that the ex parte ruling which expires on Wednesday, February 15, 2023, would be upturned.
“An interim order was granted by the Supreme Court and that order was to lapse on Wednesday (February 15) and incidentally, that was the day the court fixed for hearing of the motion,” Malami said.
“With the position in mind, we have taken steps to file our objection challenging the jurisdiction of the court to entertain the matter. Jurisdiction on the ground that when you talk of monetary policy, Central Bank is an indispensable and necessary party in the matter.”
Reacting to the Federal Government’s stance, Fani-Kayode in a post via his verified Twitter handle said ‘We win!!!’
