Niger Sues Federal Govt Over Naira Redesign As Rural Markets Close

The Niger State government has joined the list of state governments that have filed suits against the federal government on the naira redesign policy of the Central Bank of Nigeria (CBN) at the Supreme Court. 

The state’s attorney general and commissioner for justice, Nasara Danmallam, said the case with suit number SC/CV/210/2023 filed on February 10, 2023 with the state government as the plaintiff, is seeking an extension of the timeframe given by the CBN for the currency swap and withdrawal from circulation of the old N200, N500 and N1,000 among other reliefs. 

He said in the affidavit in support of the originating summons filed at the Supreme Court, the state government contended that the unavailability of the new notes had caused untold hardship and suffering for inhabitants of the state, especially those living in rural communities.

The attorney general said the state government was deeply concerned with their plight and would continue to do anything within its constitutional limit to ameliorate their sufferings. 

Buhari Fails To Meet 7-day Window To End Naira Scarcity

Meanwhile, LEADEARSHIP Sunday findings revealed that most rural markets have closed following the unavailability of the new naira notes and the unclear directive on the notes as the timeline ended on Friday.

It was observed that food, livestock and fish markets in Zumba, Mariga and Chimbi were not operating to full capacity because of unavailability of cash.

Findings revealed that some sellers of products like yam, potatoes, grains and vegetables could not sell their products as they could not transact electronically.

At the cities findings also revealed that most ATM machines were empty.