Joined in the suit as Defendants are the Attorney General of the Federation and Minister of Justice, Abubakar Malami and the Central Bank of Nigeria.
The Supreme Court in a case initially brought by ten states recently, held that the old banknotes remain legal tender pending the determination of a motion on notice fixed for February 22.
While the deadline for the swap of the old notes expired on February 10, President Buhari in a national broadcast last week directed the CBN to recirculate only the old two hundred naira banknote, thereby overruling the Supreme Court and banning the use of old five hundred and one thousand naira notes in the country.
SERAP is asking the court for a declaration that President Buhari’s directive banning the use of the old notes is a fundamental breach of section 287 subsection one of the Nigerian Constitution and his constitutional oath of office, and therefore unconstitutional, unlawful, null and void.
SERAP is also arguing that the directive to ban the use of the old banknotes contrary to the interim injunction by the Supreme Court, is ultra vires, beyond the constitutional and legitimate powers of President Buhari and the government.
No date has been fixed for the hearing of the suit, filed on behalf of SERAP by its lawyers Ebun-Olu Adegboruwa, and Kolawole Oluwadare.
