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Nigerians Await Supreme Court Ruling On Old Naira Note Deadline Suit
As the Supreme Court resumed hearing on Wednesday(today) for the ongoing case involving the old naira note deadline suit between several state governments and the Federal Government, a wide range of Nigerians are hopeful that the court will issue a favorable judgment that will alleviate the difficulties faced by consumers, businesses, and various professional and trade unions.
According to reports by BIZTELLERS, despite the Supreme Court’s restraining order issued on February 8 that forbade the Federal Government from implementing the February 10 deadline for exchanging old naira notes with new ones, the Central Bank of Nigeria did not change the deadline, leading to significant concerns among many Nigerians.
The Supreme Court’s restraining order came after a lawsuit was filed on February 3 by the governments of Zamfara, Kogi, and Kaduna against the Attorney-General of the Federation. Other states, including Lagos, Ondo, Ekiti, Kano, Sokoto, Ogun, and Cross River, have also joined the lawsuit as co-plaintiffs.
Last Thursday, the disagreement between President Buhari and some state governors over the naira redesign initiative escalated when the President in a nationwide broadcast extended the validity of the old N200 notes while insisting that the old N500 and N1,000 not legal tender.
President Buhari further announced that the old N200 note will remain legal tender until April 10, 2023, but urged citizens to deposit their old N500 and N1000 notes with the central bank.
Following the president broadcast on the new naira note, the governments of Kaduna, Ogun, and Sokoto states have reiterated their stance that people within their states should continue to use old naira notes as legal tender, in adherence to the apex court’s order, until a final pronouncement is delivered on the case pending before it.
Following a meeting with 12 APC governors, the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, and the party’s National Working Committee issued a communique on Sunday calling on the Central Bank of Nigeria and the Attorney-General of the Federation, Abubakar Malami, to comply with the order of the Supreme Court regarding the old naira note deadline lawsuit.
According to report, protests stemming from a shortage of new naira notes have resulted in the deaths of at least 13 people across the country. The policy has also led to protests in at least 12 states.
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Inside Tinubu’s Closed-Door Meeting With Opposition Leaders – SDP, IPAC Reveal Details
The Social Democratic Party (SDP) and the Inter-Party Advisory Council (IPAC) have disclosed details of their recent closed-door meeting with President Bola Tinubu, explaining that the engagement focused on strengthening Nigeria’s democratic process ahead of the 2027 general elections.
The clarification came amid speculation surrounding the meeting, which took place at the Presidential Villa in Abuja after leaders of several opposition parties attended an Iftar dinner hosted by the president earlier in the week.
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Speaking during a gathering hosted in Abuja by the SDP’s former presidential candidate, Adewole Adebayo on Friday, the party’s National Chairman, Prof. Sadiq Gombe, said the meeting with Tinubu followed an official invitation from the Presidency and lasted about an hour.
According to Gombe, the discussion centred on the need to strengthen Nigeria’s electoral laws and restore public confidence in the country’s electoral process ahead of the 2027 polls.
He explained that the meeting provided an opportunity for party leaders to remind the president of the importance of conducting transparent, free, and credible elections.
Gombe noted that democracy can only thrive when governments listen to the concerns of citizens and ensure electoral processes that guarantee fairness and accountability.
The SDP chairman also expressed concern over growing voter apathy, pointing to the low turnout recorded in the recent Area Council election in the Federal Capital Territory.
He said the Abuja Municipal Area Council election witnessed only about seven per cent voter turnout, which he described as a clear sign that many Nigerians are losing confidence in the electoral system.
Gombe urged the government and members of the National Assembly to take urgent steps to review electoral laws and rebuild public trust in Nigeria’s democracy.
Also speaking, the National Chairman of IPAC, Dr. Yusuf Dantalle, said political parties used the meeting to raise concerns about aspects of proposed electoral reforms, particularly issues related to indirect primaries and the mandatory electronic transmission of results.
Dantalle explained that the parties appealed to the president to use his influence to encourage legislative review where necessary, noting that reforms should strengthen, rather than complicate, the democratic process.
He expressed optimism that Tinubu would consider the concerns raised and support necessary amendments that would improve the electoral system.
The IPAC chairman also called on the Independent National Electoral Commission (INEC) to strictly adhere to electoral guidelines as preparations for the next election cycle begin.
Earlier in his remarks, Adebayo cautioned political actors against turning the 2027 general elections into a do-or-die contest, stressing that the primary goal of democracy should be the progress and stability of Nigeria rather than personal political victories.
He urged leaders across political parties to encourage citizens to actively participate in the democratic process and ensure that elections are conducted peacefully and transparently.
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President Tinubu nominates Taxman Taiwo Oyedele as minister of state for finance
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