We Will Obey Supreme Court Ruling On Old Naira Deadline -Malami

The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, has said that the federal government will obey the Supreme Court ruling, which stopped the central bank of Nigeria from enforcing the February 10th deadline for the old naira notes.

Recall, that the Supreme Court had in a ruling on a suit filed by governors of Kogi,Zamfara and Kaduna states, on Wednesday,suspended the CBN deadline for demonetisation policy and fixed February 15 for hearing on the matter.

Malami clarified that the federal government, out of its regard for the rule of law, would abide by the order of the apex court, even though it intended to challenge it and would do so within the provisions of the law.

Malami while speaking during an interview on ARISE News Channel, on Thursday, said that the federal government had already filled reasons before the Supreme Court as to why the suit by three states challenging the February 10 deadline fixed by the CBN for phasing out the old N1, 000, N500, and N200 banknotes should be struck out.

Read More:BREAKING: Supreme Court Stops FG From Old Naira Deadline

Malami disclosed that the federal government had already put machinery in place to challenge the jurisdiction of the apex court to hear the suit of the three states.

He contended that the singular fact that the CBN was not joined as a party in the suit robbed the apex court of necessary jurisdiction.

He said when the court reconvened next Wednesday, the federal government, on one hand, would be challenging the jurisdiction of the apex court to entertain the suit, and on the other, see how the interim order would be vacated.

However, a civil society group, the Alliance for Surviving Covid-19 and Beyond (ASCAB) advised the CBN to obey the order of the Supreme Court, which temporarily restrained it from going ahead with the plan to phase out the old banknotes from today, until after hearing on the matter.