Home » Akeredolu, Ganduje Sue Buhari, CBN Over Naira Scarcity

Akeredolu, Ganduje Sue Buhari, CBN Over Naira Scarcity

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Godwin Emefiele and Muhammadu Buhari

Governors Abdullahi Umar Ganduje of Kano and Rotimi Akeredolu of Ondo have taken legal action against President Muhammadu Buhari and the Central Bank of Nigeria (CBN) over the scarcity of naira in the country. Both Kano and Ondo state governments have filed suits with the Supreme Court of Nigeria in Abuja in response to the CBN’s directive limiting daily cash withdrawals from banks.

The Ondo state government is seeking an order from the Supreme Court to halt the implementation of the directive, which has impacted economic and commercial activities in the state and across the country. Meanwhile, the Kano state government is requesting a mandatory order to reverse the federal government policy of recalling the N200, N500, and N1,000 notes from circulation, citing the negative impact on the economic well-being of its 20 million citizens.

The Kano state government is also seeking a mandatory order to compel the federal government to reverse its naira redesign policy, alleging non-compliance with the 1999 Constitution (as amended).

It is worth noting that both Ganduje and Akeredolu belong to the same political party as the president, the All Progressives Congress (APC).

In an earlier case, the Supreme Court granted an interim order to the CBN to continue using old naira notes until February 10, 2023, in response to an ex-parte application by the three applicant states of Kaduna, Kogi, and Zamfara.

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