The Supreme Court on Wednesday adjourned hearing in a suit filed against the federal government seeking a restraining order to stop the full implementation of the naira redesign policy of the Central Bank of Nigeria (CBN) until February 22.

Recall Kaduna, Kogi and Zamfara states have approached the apex Court amid cash scarcity in the country.

In a dramatic twist, Edo and Bayelsa states have also joined the Federal Government in suit by some States against the Federal Government on implementation of the Cashless Policy of the Central Bank of Nigeria (CBN).

Edo represented by a Senior Advocate of Nigeria SAN, told a panel of seven Justices of the Apex Court that it was in support of the Cashless Policy Regime and sought to be joined as respondent.

Bayelsa followed the suit when through its counsel, Mr Damian Dodo (SAN) announced support for the Federal Government and applied to be joined as respondent in the matter.

However, seven other states, Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo and Sokoto joined their counterparts, Kaduna, Kogi, and Zamfara in the legal battle against the Federal Government.

The seven states in their respective motions for joinder pitched their tents with the three aggrieved states that initially filed the legal action.

Their joinder motion was moved by Mr Samuel Ologunorisa (SAN) and was granted by Justice John Okoro who presided over the matter.

The Court directed the plaintiffs to amend their originating summons to reflect the name of the seven fresh plaintiffs.

In the same vein, Bayelsa and Edo through their counsel, Damian Dodo (SAN) moved their application for joinder as respondents and was granted by the court following a no objection on the issue.

Justice Okoro also directed the Federal Government, Edo and Bayelsa to amend their statements of defense to reflect the new position of the case.

Meanwhile, hearing in the suit has been shifted to Wednesday February 22, 2023, following agreement of the parties in the matter.

However, in another dramatic development, River State filed a separate suit against the Federal Government on the same matter.

Rivers, through its counsel, Emmanuel Ukala (SAN), stood its ground to team up with other states, adding that it would prefer to go solo in its case.

Recall that Rivers State Governor, Nyesom Wike has faulted the implementation of the Naira swap policy by the Central Bank of Nigeria (CBN) as shoddy and political.

He said the exercise has worsened the living condition of the poor in society stressing that the essence of government and its agency such as CBN, is not to inflict hardship on the masses but to cushion it.

Wike had made this known during the official presentation of the letter of nomination for the “award of Independent Man of the Year 2022,” on him by the management of Independent Newspapers, at the Government House, Port Harcourt, on Tuesday.

He observed that Nigerians were suffering as a result of the tactless implementation of the naira swap policy, and urged the government to urgently ameliorate the condition of the people.

The governor stated that “We are in a difficult situation now. It doesn’t matter what anybody may say. The truth must be told at all times. Nigerians are suffering now and as a people, we owe that responsibility to cushion the level of hardship that Nigerians are facing, we are not to worsen the situation”.

He said people are not necessarily opposed to the redesign of the N1000, N500 and N200 notes, but that they were concerned about the implementation of the policy and the hardship it has inflicted on the masses.

“Nobody says, and let it be on record that there is nothing wrong with redesigning our naira.

“What we are saying is the implementation will not help, rather it will aggravate the condition that people face, particularly the poor people,” he stated.

Uncertainties Over the Fate Of Nigerians With Old Naira Notes

Beyond the scarcity of the redesigned naira notes in the country, it has been frustrating for citizens who are still in possession of the old 200, 500, and 1000 naira notes as the CBN failed to give further directives after the deadline for old naira notes swap amid a subsisting interim order of the Supreme Court restraining the Federal Government from implementing the February 10, 2023 deadline.

But since the expiration of the deadline, residents of many states have continued to reject the old naira notes as legal tender.

Even though the CBN clarified that Nigerians can still deposit their old banknotes at the CBN for new notes, there seems to be no channel for citizens to swap their old notes.

According to reports, some citizens who had attempted to swap their old notes at the CBN were turned back to some commercial banks to no avail.

While the ongoing cash crunch bites harder Nigerians, particularly in the rural areas where there are no banks and internet facilities have continued to live without cash, while others with medical conditions have either died for lack of access to their funds in their bank accounts or continue to hold on in hope that a messiah of sort would come to their rescue.

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