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Why Supreme Court Halt Ban On Old Naira Notes —Ozekhome
Mike Ozekhome, a nigerian lawyer and Senior Advocate, has shed light on the recent Supreme Court ruling that temporarily blocks the Federal Government from enforcing the Central Bank of Nigeria’s (CBN) ban on the use of old N200, N500 and N1,000 banknotes as legal tender in the country.
During a Wednesday night appearance on Channels Television, Ozekhome stated that the Supreme Court’s decision was only a pause on the implementation of the deadline, and that the court had yet to make a final determination on the matter.
The Supreme Court issued this ruling to prevent the lawsuit from being cut short.
Explaining the development, Ozekhome said, “The Supreme Court has not decided the matter. All it has done is to fall back to a decision like Kotoye vs CBN, that in matters of extreme urgency, you can grant an interim order, even if it be an ex-parte, to prevent the subject matter of the suit being truncated.
“If, for example, the Supreme Court, did not make that order, and the only order existing is that of the High Court, it means that the CBN, by 10th of this month, will stop the use of all old notes.
“But what the Supreme Court has said is, ‘Just wait, let us listen to you people,’ not that it has decided that Zamfara, Kogi and Kaduna states have any valid case that is actionable because the action is already being challenged with a preliminary objection.
On Wednesday, a seven-judge panel of the Supreme Court, headed by Justice John Okoro, granted a temporary injunction in a unanimous decision, preventing the Federal Government from implementing the CBN’s February 10 deadline for swapping old banknotes for new ones.
This ruling was a result of a motion filed on behalf of three northern states – Kaduna, Kogi, and Zamfara – who sought to stop the implementation of the CBN’s policy on February 3rd. The motion was filed as part of a lawsuit against the CBN’s policy.
Ozekhome further explained that when a matter is being considered by the Supreme Court, other lower courts are prohibited from intervening.
“Notwithstanding the fact that a high court or Federal High Court had granted an order telling the CBN, ‘You can stop this naira swap policy on the 10th of February as you have decided to do’, the Supreme Court today said, ‘Hello? Don’t do that! Allow it to continue. Come back on the 15th of February and let us hear you people,’” he added.
Ozekhome further explained that the Supreme Court’s ruling allows both old and new naira banknotes to be in circulation simultaneously.
He emphasized that the decision of the Supreme Court will not only impact the three state governments that brought the lawsuit against the Federal Government, but it will also affect all states in the country and their respective attorney generals.
Super Eagles Captain, Ahmed Musa has been signed up by Jaiz Bank as a brand ambassador.
An elated Musa made the disclosure in a statement on his verified handle on micro-blogging site, X on Thursday.
The Kano Pillars striker urged his fans to troop to Jaiz Bank to do business for trusting him with the new role.
He exclaimed, “And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! ”
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He wrote, “✨Alhamdulillah✨ I am SO excited to announce that I’ve officially joined Jaiz Bank as their newest ambassador! 🎉💼
“A huge thank you to @JaizBankNG for trusting me and allowing me to be a part of this amazing journey! 🙏🏼💚 It’s an honor to represent a brand that believes in growth, security, and financial empowerment.
“I can’t wait to share all the incredible things we’ll be doing together! 🚀💡
And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! Let’s grow together! 💪🏼🔑
“@JaizBankNG is a non interest Financial institution poised with a mission to make life better through ethical Finance. 👌👌”
#NewBeginnings #BankWithJaizBank #PartneredUp #TeamJaizBank”
On November 20, 2024, Kenya’s First Lady, Rachel Ruto, celebrated her 56th birthday and her husband President William Ruto publicly expressed his love and appreciation for his wife on this special day, wishing her well.
The birthday celebrations were marked by an outpouring of goodwill from political figures, media, and citizens across Kenya, who praised her for her grace, leadership, and significant contributions to society, particularly through initiatives like the Joyful Women Organisation, which aims to empower rural women.
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The day was characterized by a collective acknowledgment of her role as a national figure dedicated to community upliftment.
In a heartfelt message, President William Ruto took to social media, writing, “Happy birthday my love, @MamaRachelRuto. Continue being a blessing to me and our children. Mungu akubariki sana,” which translates to “God bless you abundantly.”
Other prominent leaders also extended their wishes to the First Lady, with Anne Waiguru, EGH, OGW, Governor of Kirinyaga County, tweeting, “Happy Birthday First Lady,” further showing the respect and admiration for Rachel Ruto’s leadership and impact.
A gas cylinder explosion at a filling station in Jibia Local Government Area of Katsina State has resulted in significant damage to six vehicles, according to a statement from the Katsina State Police Command.
The command’s spokesperson, Abubakar Sadiq-Aliyu, confirmed the incident, which occurred on Friday, November 15, 2024.
He explained that a loud explosion alerted police operatives from the Jibia Divisional Police Headquarters. Responding promptly, the Divisional Police Officer led a team to the site, supported by military personnel.
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“Upon arrival, operatives found a truck loaded with gas cylinders engulfed in flames at Tamal filling station, along Kagadama-Magamar Jibia Road,” Sadiq-Aliyu stated. The joint team acted swiftly, deploying measures to protect lives and limit property damage. Their efforts successfully extinguished the fire.
The spokesperson added, “Six motor vehicles were significantly affected by the fire incident, but fortunately, no life was lost.”
State Commissioner of Police, Aliyu Abubakar-Musa, has directed a thorough investigation to determine the cause of the explosion. Updates on the findings will be provided as investigations progress.
This incident highlights the need for heightened safety measures at gas filling stations to prevent such occurrences.
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