Supreme court adjourns naira redesign case till Feb. 22 

 By Business AM

The Supreme Court of Nigeria  has adjourned proceedings on the naira swap policy of the Central Bank of Nigeria (CBN) till February 22 for hearing of the consolidated suits seeking to stop the full implementation of the policy as filed by Kaduna,Kogi and Zamfara states.

The states had argued that the hasty cash swap deadline had resulted in a negative repercussion on business and socio-economic activities of Nigerians in the respective states.

In another development, Six other States, including Lagos, Cross River, Ogun, Ekiti, Ondo and Sokoto joined their counterparts in the legal battle against the federal government. The six States in their respective motions for joinder in support of the three aggrieved states that initially began the legal battle.

Their joinder motion was moved by Samuel Ologunorisa and was granted by a seven man panel led by Justice Okoro, who directed the plaintiffs to amend their originating summons to reflect the name of the six fresh plaintiffs.

Meanwhile, River State  filed a separate suit against the federal government on the same issue.

Rivers through its counsel, Emmanuel Ukala maintained its stance not to team up with other states, adding that it would prefer to do its case separately.

On the other hand, Edo and Bayelsa filed a motion in support of the federal government. The counsels representing both states told the panel of seven man Justices of the apex court that they are in support of the cashless policy regime and sought to be joined as respondents.