AGF Malami, Emefiele To Be Charged With Contempt Over Naira Crisis

• AGF Malami and CBN Governor Emefiele are set to be charged with contempt over the ongoing Naira crisis.

• Abdulhakeem Mustapha, the lead counsel for the three states made this known on Thursday.

• Following the Supreme Court verdict on the Naira redesign policy, neither the CBN governor nor the AGF made any official statement about compliance with the apex court ruling.

EKO HOT BLOG reports that Kogi, Kaduna and Zamfara states have finalised arrangements to initiate contempt proceedings against the Minister of Justice who also doubles as the Attorney-General of the Federation (AGF), Abubakar Malami (SAN), and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele despite the Monday night’s declaration of the old Naira notes as legal tender.

The lead counsel for the three states, Abdulhakeem Mustapha (SAN) disclosed to the press on Thursday that the CBN’s official statement was a mere camouflage to give the impression of compliance.

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Recall that weeks ago, the Supreme Court invalidated the Naira redesign policy introduced by the CBN, citing a defective timing and implementation.

Delivering judgment in a suit instituted by three states of the federation, a seven-member panel of the apex court held that the old N200, N500 and N1000 notes remain legal tender until the end of the year.

However, over one week since the verdict, neither the CBN governor nor the Attorney-General of the Federation made any official statement about compliance with the apex court ruling.

The uncertainty about the true status of things prompted traders and businesses across the country to continue rejecting the old currency.

The apex bank’s statement on Monday came few hours after the presidency said the CBN had no reason not to comply with court orders on the excuse of waiting for directives from President Muhammadu Buhari.

But Mustapha dismissed the CBN’s statement as a gimmick, insisting that the apex bank had not complied with the Supreme Court order.

The senior advocate revealed that he had his clients’ instructions to initiate contempt proceedings against Malami and Emefiele.
“The press release made by the Central Bank of Nigeria is just a mere camouflage just to give an impression of compliance.

There is nothing like that. And our clients, Kaduna, Kogi, Zamfara, and states have told us that we should go on with the already initiated contempt of proceedings against the Attorney General and the Central Bank Governor.

“The decision of the Supreme Court has not been complied with. They are in contempt of court. We are going to reactivate the already-initiated contempt proceedings.  There is a legal process around it,” he told Punch.

On when Nigerians should expect the proceeding to start, he said, “I can confirm to you that we have a clear mandate for our clients to proceed with the already initiated contempt proceedings because it is clear to all and sundry that the CBN is just playing pranks.

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“They are not sincere. And they are acting as if they are above the law.
“The constitution is clear that all organs and everybody must ensure that the decision of the Supreme Court is enforced.”

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