Hearing in the suit challenging the powers of the federal government and the Central Bank of Nigeria (CBN) to stop the use of the old N200, N500, and N1,000 notes begins today at the Supreme Court in Abuja.
This comes as the government of Ogun State has petitioned the Supreme Court to join Kaduna, Kogi, and Zamfara states in the suit.
The three northern states originally filed the suit, which has since been joined by Ondo, Kano, Ekiti, and now Ogun states. Rivers had also indicated its willingness to do the same.
According to sources at the Federal Ministry of Justice, the intention of the state governors who joined the Supreme Court suit was to postpone the decision and keep the old currency in circulation until after the election.
The Supreme Court, as the country’s apex court, intervened in the matter that had sparked intense debate last week, halting the federal government’s plans to phase out the use of old banknotes on February 10, 2023.
Justice John Okoro, who issued the restraining order against the federal government, stated that the order would remain in effect until today, when the case of the aggrieved states would be heard.