February 1, 2023 11:54 pm

Exchange of Re-designed Naira Notes: Court orders Plaintiff to put CBN on Notice

The Federal High Court sitting at Awka, Anambra State has directed Incorporated Trustees Of African Initiative Against Abuse of Public Trust to put the Central Bank of Nigeria ( CBN) , its Governor Mr Godwin Emefiele and the Attorney General of the Federation on Notice to compel them to come to the court and show cause why it’s prayers, should not be granted them.

This is following the Suit filed against the Central Bank of Nigeria ( CBN), its Governor Mr Godwin Emefiele and the Attorney General of the Federation ( AGF) ( as 1st, second and third Defendants ) by Incorporated Trustees Of African Initiative Against Abuse of Public Trust on behalf of over 50 million Nigerians in different rural areas without bank account).

The three Defendants have  Chief Musa Tolani, an Aba Abia state based Lawyer as their joint Counsel while Mr N.D.Agu filed the Suit marked FHC/AWK/CS/195/2022 for the Plaintiff. The Court Order which was made on  30th November, 2022 had a  certified Copy dated 9th December, 2022.

Speaking on the Suit, Chief Tolani said yesterday that the Plaintiff’s  prayers  were for the court to order an interim injunction restraining  the Defendants,  particularly, the Central Bank of Nigeria (CBN) and Godwin Emefiele, either by themselves or their privies or agents  from taking any step to enforce the implementation of the policy on the redesign of Naira and non physical exchange of the old notes with the new notes  without a clear policy on how to accommodate over 50 million Nigerians without bank accounts.

The  Plaintiff’s Prayers/ Relief(s) included granting  accelerated hearing and determination of  the Substantive Originating Summons, granting the Claimant Leave to serve  Godwin Emefiele and Attorney General of Federation with  the Court processes by substituted means by posting or transmission through DHL Courier Services, directing and barring the CBN and Emefiele by themselves or agents from taking any steps to  dissipate, discountenance or in any other manner inhibit over 50 million Nigerians without bank accounts from using alternative means to exchange old notes with the redesigned notes.

They also  prayed the Court for an  ” Order of departure from the rules by abridging the time within which the Defendants may file their respective Counter Affidavit to substantive Originating Summons to a period of five days from the date of service of the processes”.

After hearing the Plaintiff’s Counsel ( Agu, Esq. ) who  said that the CBN and Emefiele have  served them with their response to the Originating   Process before being served,  and Defendants Counsel

 (Chief Tolani) having confirmed that  the Defendants have accepted service of the Originating Process and also filed and served their response  thereto, the  presiding justice , Hon. Justice H. A. Nganjiwa  granted  Reliefs A and B to the Plaintiffs to  enable the 3rd Defendant ( AGF)  be served with the Originating Processes  and Leave to serve him by substituted means by posting.

He thereafter adjourned to 19th January, 2023 for hearing of the Motion on Notice for the  Interlocutory Injunction.

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