The supreme court says the failure of President Muhammadu Buhari to obey the order restraining the federal government from implementing the deadline on old naira notes is a demonstration of autocracy.
Abubakar Malami, the attorney-general of the federation , also said the plaintiffs failed to join the CBN in the suit.Delivering an unanimous judgment, the seven-member panel held that the apex court has the jurisdiction to hear the suit.Advertisement “The CBN has no power to introduce new notes into the system without a directive of the president,” the court held.
“I hold that no reasonable notice was given. Therefore the directive is invalid and the implementation a nullity,” the court said.The court reprimanded the president for making a declaration on February 16 that only the old N200 note remains valid legal tender despite the interim order made on February 8.
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