The Edo State Government has joined the Supreme Court suit because it wants legitimate cash to be available to ordinary citizens and to prevent the nation from being flooded with massive quantities of old notes that have allegedly been stockpiled in anticipation of the forthcoming elections. In a statement on Thursday, Attorney General and Commissioner for Justice Oluwole Iyamu denied that the plaintiffs had suddenly become the “people‑loving patriots” they claimed to be. He said the suit’s objective was to create a legal opening for the influx of old notes, which would benefit a ruling‑party faction that believes illicit cash can boost its electoral fortunes.
According to Iyamu, the real need is for legitimate cash for ordinary citizens, and pressure must be applied to the Central Bank of Nigeria and the Federal Government to address this. He noted that most genuine N200, N500 and N1,000 notes have already been deposited, and the problem now lies in the availability of replacements from the banking system. The government’s intervention to adjust the implementation process is already bearing fruit, despite the “strident cries and inflammatory rhetoric” of those who disguise their malevolence as concern for the masses.
The Attorney General affirmed that Edo’s position, which aligns with the wishes of the people, will be vindicated in a few days. Recent reports indicate that the Supreme Court in Abuja adjourned a hearing on the suit—originally filed to ban the use of old naira—to Wednesday, 22 February 2023. Three states initially sued the Federal Government for a restraining order against the full implementation of the Central Bank of Nigeria’s naira redesign policy. Subsequently, nine additional states—Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo and Sokoto—joined the suit, bringing the total number of plaintiffs to ten. Edo and Bayelsa filed to be respondents.
A seven‑man panel led by Justice John Okoro ordered the parties to amend their processes so that the case could be heard as a single matter. While the hearing is pending, the apex court’s order to suspend the ban on the older N200, N500 and N1,000 notes remains in effect. However, President Major General Muhammadu Buhari (retd.) announced that only the old N200 note will remain legal tender until 10 April, while the N500 and N1,000 notes have ceased to be legal tender.
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