Would you like to receive notifications on latest updates of the following headlines?

Supreme Court Overturns Fg's Cashless Policy, Naira Redesign

POSTED ON March 3, 2023 •   Uncategorized      BY Akinbohun Samuel

The Supreme Court of Nigeria nullified the Federal Government’s cashless and Naira redesign policy on Friday in Abuja, declaring it an affront to the 1999 Constitution.

The Apex Court held that President Muhammadu Buhari breached the Constitution of the Federation in the ways and manners in which he issued directives for the re-designing of the naira by the Central Bank of Nigeria, CBN.

When the President blatantly neglected to consult with the National Council of States, the Federal Executive Council, and the National Economic Council (NEC) before ordering the Central Bank of Nigeria to introduce new Naira notes, Justice Emmanuel Akomaye Agim, who read the lead judgment of the Court, held that the President acted ultra vires.

According to him, President Buhari's exercise of his executive authority to redesign the naira in violation of the constitution violated the inhabitants of Nigeria's fundamental rights in some ways.

The Supreme Court ruled that in a pluralistic nation like Nigeria, President Buhari is not permitted to utilize his power in this manner.

Among others, the Supreme Court held that unlawful use of executive powers by the President inflicted unprecedented economic hardship on the citizens by denying them ownership of their and access to the money.

READ ALSO
Eno enhances healthcare with N200m contribution to UUTH
BY Abiodun Saheed Omodara February 16, 2025 0

In an effort to enhance healthcare services, the Governor of Akwa Ibom State, Pastor Umo Eno, has co...

READ ALSO
Ododo Reorganizes the Tourism Board, Kogi Hotels
BY Ebiakuboere England December 3, 2024 0

KOGI- Kogi State Governor Alhaji Ahmed Ododo has appointed former Kogi Hotels and Tourism Board Chai...

READ ALSO
Rivers Varsity Suspends Four Students For Assault
BY Benedicta Bassey June 16, 2024 0

The Rivers State University, Nkpolu-Oroworukwo, Port Harcourt has suspended four of its students con...

READ ALSO
French Embassy Unveils Waste Management Project Worth €753,000 in Varsities
BY Benedicta Bassey June 14, 2024 0

The French Embassy, via the Cooperation and Cultural Department, has launched a plastic waste manage...

READ ALSO
ATBU Enhances Research Capacity For Lecturers
BY Benedicta Bassey June 14, 2024 0

The management of the Abubakar Tafawa Balewa University, Bauchi, has enhanced research capabilities...

READ ALSO
Russia Dismisses Claim of Recruiting Nigerian Students For Ukranian War
BY Benedicta Bassey June 13, 2024 0

The Russian Embassy in Nigeria has debunked the claims of recruiting African students, particularly...

READ ALSO
Soludo Warns Tinubu Against Accepting Unsustainable Minimum Wage
BY Benedicta Bassey June 13, 2024 0

Anambra State Governor Charles Soludo on Thursday warned President Bola Tinubu against approving &ld...

READ ALSO
Obi Cubana Lauds Burna Boy For Settling Patients' Hospital Bills
BY Ebiakuboere England June 12, 2024 0

Award-winning Nigerian music star Damini Ogulu, also known as Burna Boy, has been praised by million...

OUR CHANNELS:

LAWMA Arrests Two, Seal Company for Illegal Waste Disposal
BY Abiodun Saheed Omodara May 19, 2025 0

LAGOS, Nigeria - The Lagos State Waste Management Agency (LAWMA) has arrested two individuals for th...


Ofili Shatters World Record at 2025 Adidas Atlanta City Games
BY Abiodun Saheed Omodara May 19, 2025 0

Nigerian athletes left their mark at the 2025 Adidas Atlanta City Games on Saturday, with Favour Ofi...


Insecurity: Lawyers Clashes Over Call For Self-defence in Nigeria
BY Abiodun Saheed Omodara May 19, 2025 0

The discussion surrounding self-defense, vigilante services, and the rights of Nigerians to possess...


Wike Quashes 2027 Presidential Bid Rumors
BY Abiodun Saheed Omodara May 19, 2025 0

The Minister of the Federal Capital Territory, Nyesom Wike, has dismissed rumors that he might run a...


DHS Report: Nigerians Represent 3% of All African Naturalizations in the U.S.
BY Abiodun Saheed Omodara May 19, 2025 0

The US granted citizenship to 34,289 Nigerians between 2020 and 2022, according to the latest Natura...


Ogun NSCDC Arrests 47-Year-Old Man for Defiling and Impregnating Minor
BY Abiodun Saheed Omodara May 19, 2025 0

OGUN, Nigeria - The Ogun State Command of the Nigeria Security and Civil Defence Corps has apprehend...


SERAP Urges NNPCL CEO to Explain N500Bn Revenue Shortfall
BY Abiodun Saheed Omodara May 19, 2025 0

The Socio-Economic Rights and Accountability Project (SERAP) has requested that the Group Chief Exec...


Fubara is My Boy, Wike Criticizes those Manipulating Suspended Governor
BY Abiodun Saheed Omodara May 19, 2025 0

RIVERS, Nigeria - The Minister of the Federal Capital Territory (FCT), Nyesom Wike,  has s...


Chelsea's Rebuilding Efforts after 1-0 Triumph against Man-U
BY Abiodun Saheed Omodara May 19, 2025 0

Chelsea's manager Enzo Maresca, along with key club officials, responded after the Blues secured a 1...


Nigerians Rallying 500 Lawyers to Fight DSS Lawsuit Over 'Shadow Government'- Pat Utomi
BY Abiodun Saheed Omodara May 19, 2025 0

A Professor of Political Economy, Pat Utomi, announced on Friday that Nigerians are organizing a tea...


More Articles

Load more...

Menu