Mixed reactions trail Supreme Court ruling on Naria swap in Kaduna

From Femi Oyelola, Kaduna

Following the Supreme Court judgement that halted the ban on the use of old Naira notes which the Federal Government and Central Bank of Nigeria (CBN) has vowed to enforce on February 10, 2023, there was a mixed reaction from the residents on the judgment.
Investigation by this reporter revealed that most respondents in Kaduna town are divided in their opinions.
Alhaji Umar Abubakar, a trader in the Sheikh Abubakar Gumi market opined that as a welcome development, saying in the past three days everything has come to a standstill for him.
According to him, customers have stopped coming and those who came to purchase few materials and those who are willing to make transfer cannot because of the network problem.
Similarly, Madam Ruth Auta a fruit seller at the popular station market said the Supreme Court judgment is ‘God sent rescue’ for the masses owing to the hardship wrecked by the Naira redesign policy.
She explained that for 3 days, most of her perishable goods spoiled because of low patronage.
She therefore appealed to the federal government and the apex bank to obey the judgment.
However, Mr. Mohammed Mohammed is of a different opinion, saying it is not yet Uhuru for the judgment.
According to him, the apex bank cannot be sued because the CBN act is an independent statutory body and does not take directive from anybody including the federal government.
He added that the failure to join CBN in the suit at the apex court is fatal.
The Supreme Court had on Wednesday, February 8 temporarily stopped the withdrawal of old Naira Notes from Feb 10.
A seven-member panel led by Justice John Okoro, halted the move in a ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.
The three states had specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
Delivering ruling in the motion, Okoro, held that after a careful consideration of the motion exparte this application is granted as prayed.
“An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10,, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
He accordingly adjourned until Feb. 15, for hearing of the main suit.