The Federal High Court, Awka, has dismissed the suit by the Incorporated Trustees of African Initiative Against Abuse of Public Trust seeking to stop the Central Bank of Nigeria (CBN), its governor, Mr. Godwin Emefiele and Attorney General of the Federation (AGF), Abubakar Mlami and their agents from taking any step to enforce the implementation of the policy on the redesign of the Naira notes and non-physical exchange of the old Naira notes with the new notes without a clear policy on how to accommodate the over 50 million Nigerians without bank accounts.
The plaintiff had on November 30, 2022 on behalf of over 50 million Nigerians in different rural areas without bank accounts, dragged the defendants to the court in a suit marked FHC/AWK/CS/195/22.
The court had directed the plaintiff to put the defendants on notice and adjourned the hearing of the motion on notice to January 19, 2023.
While the plaintiff had N. D. Agu, as its counsel, an Aba, Abia State-based lawyer, Chief Musa M. Tolani, led the team of lawyers for the 1st and 2nd defendants.
At the resumed hearing of the suit on January 19, 2023, counsel for the plaintiff orally applied to discontinue the suit and withdraw same based on undisclosed instructions from his clients.
But the 1st and 2nd defendants’ lead counsel did not oppose the discontinuation of the suit and withdrawal of same.
He, however, vehemently argued and applied for N50 million as punitive cost to be awarded against the plaintiff, hence, the 1st and 2nd defendants had filed copious processes in response to the plaintiff’s originating summons.
According to the ruling of the court contained in the Certified True Copy of the enrolled order dated January 31, 2023 obtained by The Guardian, trial judge, A. Nganjiwa, after considering the circumstances of the case and arguments of the counsels to the parties, ordered that the suit be struck out.
The court also awarded the sum of N300, 000 as cost against the plaintiff in favour of the CBN and Mr. Godwin Emefiele who are the 1st and 2nd defendants respectively.
