Supreme Court adjourns judgement on naira redesign after presidential election
The Supreme Court has resolved to give judgement after the Presidential election in the suits filed by some state governments challenging the federal government’s naira redesign policy, after the panel heard arguments for and against it on Wednesday.
Penpushing reports that the presiding justice of a seven -member panel of the Supreme Court, Justice John Okoro, after the three hours proceedings announced Wednesday March 3, 2023 for the judgement, while it is also on record that the Presidential election which holds Saturday 25 February,a week ahead of state elections scheduled to come up on 11 March.
The interpretation of the postponement of the judgement on the matter till 3 March, is a clear indication that there would be no judicial resolution of the monetary policy before Presidential poll, while it is recalled that controversial monetary policy, which has led to cash crunch across the country, bringing hardship to millions of Nigerians, has been a major issue
Penpushing further reports that the suit, filed on 3 February, 2023 by some state governments, seeks the reversal of the federal government’s naira redesign policy, while it is also recalled the presidential candidate of the ruling party, All Progressives Congress (APC), Bola Tinubu, had said he was the target of the policy that is defiantly backed by President Muhammadu Buhari.
The opponents of the suit are the Attorney-General of the Federation, Abubakar Malami, representing the federal government alongside two other states that were joined as co-defendants, based on their requests, on 15 February.
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