Ten state governments in Nigeria have petitioned the Supreme Court to overturn President Muhammadu Buhari’s decision to outlaw the 500- and 1,000-naira notes.

The governors are requesting that the Supreme Court rule that the President’s orders from his broadcast on Thursday are unconstitutional in Suit No. SC/CV/162/2023, which was filed on Friday by their attorney, A.J. Owonikoko (SAN).

Ten state governments in Nigeria have petitioned the Supreme Court to overturn President Muhammadu Buhari’s decision to outlaw the 500- and 1,000-naira notes.

The governors are requesting that the Supreme Court rule that the President’s orders from his broadcast on Thursday are unconstitutional in Suit No. SC/CV/162/2023, which was filed on Friday by their attorney, A.J. Owonikoko (SAN).

The counsel for the applicants cited Section 232(1), Section 6(6)(b) and Section 287(1) of the 1999 Constitution as amended, which includes the protection of the Supreme Court’s dignity and which ensure compliance with its orders by all persons and authorities.

Due to complaints from many Nigerians, the Central Bank of Nigeria (CBN) had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10. However, the Supreme Court ruled that the Federal Government, the CBN, and commercial banks could not continue with the deadline until the February 22 decision on a notice pertaining to the issue.

However, the President ordered the apex bank to put the old N200 notes into circulation so they can coexist alongside the new N200, N500, and N1,000 banknotes for 60 days in a national broadcast on Thursday.

Old N500 and N1,000 bills, he claimed, are no longer accepted as legal money in Nigeria.

However there have been numerous responses and stern objections of the President’s order.