Naira redesign: Kaduna, 2 others file contempt proceeding against Malami, Emefiele

Kaduna and two other states on Tuesday filed a contempt proceeding against the Attorney General of the Federation and Minister of Justice, Abubakar Malami, and the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, at the Supreme Court.

Kogi and Zamfara States are the other two states involved in the proceeding.

The development followed the refusal of the Federal Government and CBN to comply with the apex court’s order on the naira swap.

The Supreme Court had earlier this month restrained the federal government and CBN from enforcing the February 10 deadline on the withdrawal of the old N200, N500, and N1,000 notes from circulation.

Read also:NAIRA SCARCITY: Confusion reigns as Buhari, Emefiele act contrary to Supreme Court directive

President Muhammadu Buhari had last Thursday extended the validity of the old N200 notes till April 10.

He, however, declared that the old N500 and N1000 notes had ceased to be legal tender contrary to the apex court’s order which held that all the banknotes remain valid pending the determination of the matter.

The Supreme Court will rule on the suit filed by Kaduna, Kogi, Zamfara, and seven other states challenging the naira redesign and enforcement of the deadline for the currency swap on Wednesday.

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