Bayelsa, Edo Split Rank of States Opposing FG’s Naira Swap Policy

Alex Enumah in Abuja

Contrary to the position of the Nigerian Governors Forum (NGF), Bayelsa and Edo States on Wednesday appeared as co defendants with the federal government in the suit challenging the naira swap policy at the apex court.

Three states of Kaduna, Kogi and Zamfara had last week dragged the federal government to the Supreme Court to stop it and the Central Bank of Nigeria (CBN) from fully implementing the demonization policy introduced last October.

The three states, pending the hearing of the suit, requested for a temporary order of the apex court halting the scheduled ending of the old naira notes of 200, 500 and 1,000 denominations from February 10, 2023.

In granting the request, the apex court fixed hearing for February 15 and asked that the suit be served on the respondent (Attorney General of the Federation).

However, when the matter was called for hearing, nine states of the federation announced their desires to be joined as interested parties in the suit.

While seven states including Lagos, Katsina, Cross River, Ogun, Ekiti, Ondo and Sokoto sought to be joined as co-plaintiffs, Bayelsa and Edo informed the court that they desired to be joined as co-defendants.

Since there was no opposition to their joining, Justice John Okoro, who is leading a seven-man panel, granted the request and joined them as parties.

Details later…