New Naira Notes and Deadline: Lawyer takes Emefiele to Court

New Naira Notes and Deadline: Lawyer takes Emefiele to Court

A lawyer, Sunusi Umar Sadiq of 44, Muhammadu Buhari Way, Kabuga, Kano, on 25 January, dragged the Central Bank Of Nigeria (CBN) and its. Governor, Godwin Emefiele to the Federal High Court of Nigeria in the Kano Judicial Division over the new naira notes and the 31 January impossible deadline imposed.

Sadiq wanted the court to stop the duo from making the existing N200, N500 and N1,000 currency notes cease to be the legal tender in Nigeria by 31st January 2023, “which currency notes are the ones largely in circulation now, are the ones issued by the various commercial banks in the country, are the ones dispensed by the various Automated Teller Machines (ATMs).”

Sadiq based his arguments on six premises:
1. The Emefiele amd CBN announced their intention to redesign the N200, N500 and N1, 000 currency on 26th October 2022 with the proposed redesigned currency to begin circulation by 15th December 2022.

2. Up to 20th January 2023 the redesigned currency notes are not within any remarkable and substantial circulation as the commercial banks all over the country continue to issue the existing currencies. Likewise, the Automated Teller Machines (ATMs) continue dispensing the same currency notes that the Respondents claim to inted to withdraw
from circulation.

3. The Respondents are very much aware of the scarcity of the newly redesigned currency notesand their unavailability to the general public so much so that the Respondents have to threaten the commercial banks with sanctions if they continue withholding the
redesigned notes.

4. The Respondents, similarly, upon realizing the infeasibility of making the newly redesigned currency notes available to the public within time, came up with a cash swap arrangement, effective from 23rd January 2023, to reach out to the rural and underserved areas.

5. The Respondents, despite being aware of all these, still insist on 31st January 2023, to be last day the now in circulation N200, N500 and N1, 000 will cease to be the legal tender.

6. That this Ex Parte application is necessitated by the fact that as there is now only five (5) days remaining to the deadline imposed by the Respondents, there is not enough time within which the Respondents can be served, and the substantive application be heard. Moreover,
unless this application is granted, the substantive suit will become a
mere academic exercise.

Thus, he is praying the court to grant injunction restraining Emefiele and CBN from taking further steps in connection with the matter or “maintaining status quo or staying all actions pending the determination of the application.

Below are the court papers:

Page 1 of 10
IN THE FEDERAL HIGH COURT OF NIGERIA
IN THE KANO JUDICIAL DIVISION
HOLDEN AT KANO
SUIT NUMBER: FHC/KN/CS/19/2023
IN THE MATTER OF AN APPLICATION BY SUNUSI UMAR SADIQ FOR THE
ENFORCEMENT OF HIS FUNDAMENTAL RIGHTS
AND
IN THE MATTER OF FUNDAMENTAL RIGHTS (ENFORCEMENT PROCEDURE)
RULES 2009
BETWEEN
SUNUSI UMAR SADIQ………………………..………………….….…APPLICANT
AND
1. CENTRAL BANK OF NIGERIA
2. GOVERNOR OF THE CENTRAL BANK OF NIGERIA………RESPONDENTS
MOTION EX PARTE
BROUGHT PURSUANT TO SECTION 44 OF THE 1999 CONSTITUTION OF THE
FEDERAL REPUBLIC OF NIGERIA (AS ALTERED), ARTICLE 14 OF THE AFRICAN
CHARTER ON HUMAN AND PEOPLES’ RIGHT (RATIFICATION AND
ENFORCEMENT) ACT, CAP. A9, LAWS OF THE FEDERATION OF NIGERIA
2010, ORDER IV RULES 3 AND 4(a, b and c)(iv & v) OF THE FUNDAMENTAL
RIGHTS (ENFORCEMENT PROCEDURE) RULES 2009, AND UNDER THE
INHERENT POWERS OF THIS HONORABLE COURT
TAKE NOTICE that this Honorable Court will be moved on the………… day
of…………………. 2023 at the hour of 9 o’clock in the forenoon or so soon
thereafter as counsel may be heard on behalf of the Applicant praying
the Court for the following:
1. AN ORDER OF INTERIM INJUNCTION restraining the Respondents,
pending the hearing and determination of the Originating Motion dated 25th January, 2023, from making the existing N200, N500 and N1, 000 currency notes cease to be the legal tender in Nigeria by 31st January, 2023, which currency notes are the ones largely in circulation now, are the ones issued by the various commercial banks in the country, and are the ones dispensed by the various Automated Teller Machines (ATMs).

2. ANY OTHER OR FURTHER ORDER (S) as this Honorable Court may deem
fit to make in the circumstances of this matter.

TAKE FURTHER NOTICE that the grounds upon which this application is
predicated are as follows:

1. The Respondents announced their intention to redesign the N200, N500 and N1, 000 currency on 26th October, 2022 with the proposed redesigned currency to begin circulation by 15th December, 2022.

2. Up to 20th January, 2023 the redesigned currency notes are not within any remarkable and substantial circulation as the commercial banks all over the country continue to issue the existing currencies. Likewise, the Automated Teller Machines (ATMs) continue dispensing the same currency notes which the Respondents claim to intend to withdraw
from circulation.

3. The Respondents are very much aware of the scarcity of the newly redesigned currency notes and their unavailability to the general public so much so that the Respondents have to threat the commercial banks with sanctions if they continue withholding the
redesigned notes.

4. The Respondents, similarly, upon realizing the infeasibility of making the newly redesigned currency notes available to the public within time, came up with a cash swap arrangement, effective from 23rd January, 2023, to reach out to the rural and underserved areas.

5. The Respondents, despite being aware of all these, still insist on 31st January, 2023, to be last day the now in circulation N200, N500 and N1, 000 will cease to be the legal tender.

6. That this Ex Parte application is necessitated by the fact that as there is now only five (5) days remaining to the deadline imposed by the Respondents, there is not enough time within which the Respondents can be served, and the substantive application be heard. Moreover,
unless this application is granted, the substantive suit will become a
mere academic exercise.

Dated this 25th day of January, 2023
Page 3 of 10
_______________________________
Sani Garba Gwale Esq.,
Sunusi Umar Sadiq Esq.
(Applicant’s Counsel),
PP: Sunusi Umar & Co.,
No. 44, Muhammadu Buhari
Way, Kabuga, Kano.
08052923930, 08026666986.
[email protected]
NOT FOR SERVICE
Page 4 of 10

THE FEDERAL HIGH COURT OF NIGERIA
IN THE KANO JUDICIAL DIVISION
HOLDEN AT KANO
SUIT NUMBER: FHC/KN/CS/19/2023
IN THE MATTER OF AN APPLICATION BY SUNUSI UMAR SADIQ FOR THE
ENFORCEMENT OF HIS FUNDAMENTAL RIGHTS
AND IN THE MATTER OF FUNDAMENTAL RIGHTS (ENFORCEMENT PROCEDURE)
RULES 2009
BETWEEN
SUNUSI UMAR SADIQ………………………..………………….….…APPLICANT
AND

1. CENTRAL BANK OF NIGERIA
2. GOVERNOR OF THE CENTRAL BANK OF NIGERIA………RESPONDENTS
AFFIDAVIT IN SUPPORT OF MOTION EX PARTE
I, SUNUSI UMAR SADIQ, Male, adult, Muslim, a Private Legal Practitioner and a Nigerian citizen of No. 44, Muhammadu Buhari Way, Kabuga, Kano State, do hereby make an Oath and state as follows:

1. That I am the Applicant in this matter by virtue whereof I am conversant and familiar with the facts and circumstances of this case.
2. That I am a law-abiding Nigerian citizen, carrying on my legitimate businesses with other Nigerians in accordance with the constitution and the law.
3. That the 2nd Respondent is the Governor and therefore the Chief Executive Officer of the 1st Respondent, which is the institution responsible for the issuance, control and monitoring, among other things, of the Nigerian Legal Tender, the Naira.

4. That on 26th October, 2022, the 2nd Respondent made and that the N200, N500 and N1, 000 currency notes will be redesigned, and on 24th November, 2022 the specimen of the redesigned notes were unveiled and presented to the President of the Federal Republic of Nigeria.

5. That the 2nd Respondent stated that the reasons for redesigning the
currency notes are:
(a) To address the issue of individuals who have made currency
fraud their main source of income.
(b) To deal a fatal blow on the growing kidnapping and ransom
industry.
(c) To aid in lowering the rate of inflation.
(d) To control the amount of money in circulation.
6. That the 2nd Respondent assured the nation that the redesigned currency notes will come into use and start circulating by 15th December, 2022, and the existing currency notes replaced by the newly redesigned would cease to be the legal tender by 31st January,
2023.
7. That the assurance given by the 2nd Respondent turned out to be empty as when 15th December, 2022 arrived, there was no newly redesigned notes in the banking halls or the Automated Teller Machines.
8. That up to the fourth week of January, 2023, barely a week to the deadline given by the Respondents, there are no redesigned currency in circulation, nor is there any adequate and effective mechanism for accepting the deposits of the existing notes from the
people.

9. That due to the current situation, the everyday economy has been handicapped as there is fear and uncertainty among the public which created a virtual standstill in the business community.

10. That the Respondents themselves are aware of the inadequacy of the mechanisms they put in place for retrieving from the public the money in circulation so much so that they came up with a cash swap arrangements at rural and underserved areas via a Circular
BSD/DIR/PUB/LAB/15/022 dated Friday, 20th January, 2023, which Circular is available on the 1st Respondent’s website and is accessible to the general public. The said Circular is hereby attached to this affidavit and marked as Exhibit A.

11. That by coming up with the additional policy contained in the said circular, which policy kicked off on 23rd January, 2023, just a week to the deadline given by the Respondents, the Respondents admit the inadequacy of the measures they put in place to retrieve the money
in circulation and make the redesigned ones available to the public.

12. That unless this application is granted, the Respondents will create unnecessary and avoidable chaos in the country as there will be a huge loss of a large amount of money which will affect investment leading to scarcity in the production of goods and services that will
ultimately throw the country into another cycle of inflation.

13. That unless this application is granted, the Respondents’ arbitrary and totalitarian policy will seriously affect National Security as the loss of one’s life’s savings will definitely force many to turn to criminality.

14. That the world over, the Standard Best Practices when it comes to the issue of changing or redesigning currency, is to give a reasonable time within which the currency notes intended to be replaced will have been withdrawn from circulation by the normal bank and
monetary operations.

15. That even in Nigeria, that has been the practice from 1970s to 2010s with the exception of 1984, which exercise threw many into poverty to the present day.

16. That the first and second reasons given by the Respondents as reproduced in paragraph 5(a & b) of this affidavit are speculative, and indeed not within the responsibility or statutory duties of the Respondents but within the purview of the Nigeria Police Force, the
Economic and Financial Crimes Commission, among other law enforcement agencies.

17. That there is no empirical proof that the 31st January, 2023 deadline will stop ‘individuals who have made currency fraud their main source of income’ or stop the payment or receipt of ransom by bandits and kidnappers.

18. That I have filed an application before this Honorable Court for the enforcement of my Fundamental Rights against the Respondents via an Originating Motion dated 25th day of January, 2023.

19. That there is an urgent need to grant the reliefs sought in this suit as the acts of the Respondents amounted to an illegal, unlawful and unconstitutional interference with my fundamental rights as well as the rights of millions other Nigerians.

20. That the only thing that is certain to come out of the intended action of the Respondents is that millions of innocent Nigerians will lose forever their hard-earned money.

21. That the 31st January, 2023 was arbitrarily picked by the Respondents to be the day the existing legal tender will cease to be so. There is nothing magical or special with that date and replacing it with another reasonable date will not in anyway disrupt the
redesigning exercise.

22. That I made and swore to this affidavit in good faith, conscientiously believing the contents of same to be true and correct, and in accordance with the provisions of the Oaths Act.

___________________
DEPONENT
Sworn to at the Registry of the Kano State High Court, Kano
Dated ______________________ day of _________________ 2023
BEFORE ME
_______________________________
COMMISSIONER FOR OATHS
Page 8 of 10
IN THE HIGH COURT OF KANO STATE OF NIGERIA
IN THE KANO JUDICIAL DIVISION
HOLDEN AT KANO
SUIT NUMBER: FHC/KN/CS/19/2023
IN THE MATTER OF AN APPLICATION BY SUNUSI UMAR SADIQ FOR THE
ENFORCEMENT OF HIS FUNDAMENTAL RIGHTS
AND
IN THE MATTER OF FUNDAMENTAL RIGHTS (ENFORCEMENT PROCEDURE)
RULES 2009
BETWEEN
SUNUSI UMAR SADIQ………………………..………………….….…APPLICANT
AND
1. CENTRAL BANK OF NIGERIA
2. GOVERNOR OF THE CENTRAL BANK OF NIGERIA………RESPONDENTS
_____________________________________________________________________
ADDRESS IN SUPPORT OF MOTION EX PARTE
1.0. INTRODUCTION
1.1. This is an application by way of Motion Ex Parte praying this Honorable Court for an order of interim injunction restraining the 1st and 2nd Respondents, pending the hearing and determination of the Originating Motion dated 25th January, 2023, from making the
existing N200, N500 and N1, 000 currency notes cease to be the legal tender in Nigeria by 31st January, 2023, which currency notes are the ones largely in circulation now, are the ones issued by the various commercial banks in the country, and are the ones
dispensed by the various Automated Teller Machines (ATMs).

1.2. The reliefs sought by the Applicant are as contained in the Motion Paper before this Honorable Court. The Application is supported by an affidavit of twenty-two (22) paragraphs sworn to by the

Applicant himself.
2.0. ISSUES FOR DETERMINATION
2.1. From the totality of this application there is only one issue for determination before this Honorable Court to wit,

Whether the Applicant has furnished relevant and adequate materials as to make this Honorable Court grant him the reliefs
sought.

3.0. LEGAL ARGUMENT ON THE ISSUE FOR DETERMINATION
3.1. Your Lordship, the Fundamental Rights of Nigerians are strongly guaranteed and protected by the Constitution of the Federal Republic of Nigeria (1999) (As Amended). The protection is so strong that one needs not to wait until those rights have been infringed upon before one seeks for redress. One is empowered to seek the Court’s intervention when there is likelihood for the breach of any of them in relation to him. On this we refer this Honorable
Court to Section 46(1) of the 1999 Constitution which says: Any person who alleges that any of the provisions of this Chapter (i.e. Chapter IV) has been, is being or likely to be contravened in any state in relation to him may apply to a High
Court in that state for redress.
3.2. In the same vein, Order II Rule 1 of the Fundamental Rights
(Enforcement Procedure) Rules, 2009 provides thus,

Any person who alleges that any of the Fundamental Rights provided for in the
Constitution or African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act and to which he is entitled, has been, is being, or is likely to be infringed, may apply to the Court in the state where the infringement is likely to
occur for redress.

3.3. It is our humble and respectful submission that this Application falls within the purview of the above-quoted provisions. And this Honorable Court is empowered to grant the reliefs sought by the Applicant under Order IV Rule 4 (c) as well as Order XI of the
Fundamental Rights (Enforcement Procedure) Rules 2009. The said Order IV Rule 4 (c) referred to above provides: Where the Application is made ex parte for
interim reliefs, the Court may make the following
Orders;
(i)………………………….

(ii)………………………….
(iii)…………………………
(iv)
(v) Any other order as the Court may deem fit to make as the justice of the case may demand.

3.4. In the same vein, Order XI provides thus,

At the hearing of any Application under these Rules, the Court may make such Orders, issue
such writs and give such directions as it may consider just or appropriate for the purpose of
enforcing or securing the enforcement of any of the Fundamental Rights provided for in the
Constitution or African Charter on Human and Peoples’ Rights (Ratification and Enforcement)
Act to which the Applicant may be entitled.

3.5. We therefore urge this Honorable Court to grant the reliefs sought by the Applicant as prayed.
Dated this 25th day of January, 2023
_______________________________
Sani Garba Gwale Esq.,
Sunusi Umar Sadiq Esq.
(Applicant’s Counsel),
PP: Sunusi Umar & Co.,
No. 44, Muhammadu Buhari
Way, Kabuga, Kano.
08052923930, 08026666986.
[email protected]
NOT FOR SERVICE

Source – The News