Categories: Headlines

Naira Redesign: Emefiele Sued Over Disregard To Court Orders


A Lagos-based activist-lawyer, Tope Alabi, has approached the Federal High Court in Lagos for leave to initiate contempt proceedings against Central Bank of Nigeria (CBN) Governor, Godwin Emefiele for alleged disobedience of the Supreme Court orders on its naira redesign policy.

Alabi made the application via a March 27 ex parte motion in the suit with Emefiele listed as the sole respondent.

Describing the naira swap as a “cash confiscation policy”, he said it had affected the day-to-day running of his office as his staff could not make it to work daily due to the non-availability of physical cash, adding that commercial drivers “do not have point of sale (POS) device/machine to collect fares.”

The lawyer filed a 28-page affidavit in support of his application wherein he claimed that the Supreme Court on March 10, in Suit No. SC. 162/2023, “directed Emefiele to make available and allow the old naira notes of N200, N500 and N1000 to co-exist as legal tender with the new N200, N500 and N1000 notes till December 2023.”

“The respondent who had withdrawn N200, N500 and 1000 old notes from circulation on 10 February 2023 has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date by releasing the old notes to circulation.”

Alabi added that the CBN’s alleged initial non-compliance with the Supreme Court Order “has affected my job as a legal practitioner as I could not have access to daily physical cash to carry out my job and meet little daily expenses.

“That I brought this application to seek leave to enforce the Supreme Court Order being a non-party to the suit at the Supreme Court.”

Kayode Oyero

Disqus Comments Loading...
Published by
Kayode Oyero
Tags: Godwin Emefiele Supreme Court

Recent Posts

  • Headlines

I Won’t Run Away From EFCC After Handover, Says Wike

Wike directed the Governor-Elect, Siminlalayi Fubara to show EFCC his many accomplished projects if the anti-corruption commission comes for investigation.

7 mins ago
  • Politics

Kano APC Gov Candidate Gawuna Concedes Defeat

The concession came moments after INEC presented a certificate of return to the Governor-elect, Abba Kabir Yusuf of the NNPP.

7 mins ago
  • Info Tech
  • Sports

Paystack CEO Acquires Majority Stake In Danish Football Club, Aarhus Fremad

Opportunities are expected to be created for European exposure, as the club pushes on in its efforts to develop young…

37 mins ago
  • Crime Watch
  • Local

Cyber Fraud: Nigerian Bags Four Years Imprisonment For Victimizing US Citizens

To execute the scheme, Okpe and his co-conspirators launched email phishing attacks to steal victim login credentials and other sensitive…

42 mins ago
  • Business

Cash Shortage Eases After Strike Threat

The queues at banks in Lagos and most cities had started disappearing since Monday.

50 mins ago
  • Headlines

Nobody Can Chase You Away From Osun, Adeleke Assures Aregbesola

The Osun State governor promised to complete all projects by Aregbesola allegedly abandoned by the past administration of Gboyega Oyetola.

54 mins ago