Naira redesign: Ekiti seeks to be joined in suit against FG

From Abubakar Yunusa ABUJA

The Ekiti state government has applied to be joined as a co-plaintiff in a suit filed by Kaduna, Kogi, and Zamfara states against the federal government over the naira redesign policy by the Central Bank of Nigeria (CBN).

In a motion ex parte filed before the supreme court, the three states had prayed the court to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1,000 notes will cease to be legal tender.

On February 8, the court restrained the CBN from giving effect to the February 10 deadline.

In the application filed on Friday, Ekiti through its attorney-general is seeking to be joined a plaintiff in the suit.

Ekiti submits that “since the announcement of the new naira note policy, there has been an acute shortage in the supply of the new naira notes”.

“The directive of the federal government of Nigeria has affected the livelihood and has created excruciating pain and hardship on all Nigerians, including citizens of the applicant’s state,” the document reads.

“The directive of the federal government of Nigeria has also adversely affected the revenue, levies and taxes accruable to the coffer of the applicant’s state government as economic activities in the applicant’s state are now completely paralysed.

“The directive of the federal government of Nigeria has also created palpable anxiety amongst the citizens in the state of the applicant.

“The applicant’s state is a federating state of the federal republic of Nigeria and therefore has interest in the determination of the originating summon in this suit.”

Kano and Niger states have also filed separate suits to stop the policy’s implementation.

Abubakar Yunusa Abuja

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it plans to set up a reliable database for determining the appropriate methodology for the transportation and bulk storage of crude oil and natural gas in Nigeria.

Farouk Ahmed, NMDPRA’s chief executive officer (CEO), spoke at the 2022 petroleum liquid inventory reconciliation exercise, according to a statement issued by the agency in Abuja on Sunday.