About Supreme Court And Their Interim Order Against The CBN – Facts and Falsehoods.
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I’ve seen lots of misleading information.
They’re claiming that the earlier Interim Order by Supreme Court still subsists and operates as injunction against the CBN.
By their own logic, the old Naira note is still valid and legal tender, due the interim order of the Supreme Court.
Well, I don’t know how best explain the life span of Interim Orders to non-lawyers
But let me try.
An Interim Order is usually given to last for 7days.
And renewable after expiration of 7days, upon application for renewal.
Interim orders are quite different from the Interlocutory Injunctions.
Interlocutory Orders are made to last throughout the duration of the case, no matter how long the case may last in court.
The nature of the Supreme Court order against the federal government or CBN is;
Interim Injunction.
Duration is 7days.
As at today, that order has expired.
It expired by effluxion of time.
The Supreme Court sat today
The review all the facts before it, but REFUSED to renew their already expired Interim Order.
The Plaintiffs, knew the interim order has expired
They tried to get the Supreme Court to approve renewal for them
But, the Supreme Court vehemently rejected their application for renewal, but rather adjourned the case for 22nd of February for further proceedings.
The legal and natural implications of this scenario is that;
there’s absolutely no further Order restraining the CBN from going ahead with its plans, decisions, and full implementation of its new rules and policies in accordance with its constitutional duties.
Concomitantly, the deadline for the old Naira notes remains irreversible.
What it means is that; there’s no legal impediments, no obstacles or restrictions against the CBN from enforcing its rules about the use of the new Naira.
The coast is clear for the CBN to proceed to discharge its constitutional functions.
Those heaps of old notes that Agbadorites intends to use to buy votes, has therefore turned to tissue papers.
Barr. Azubuike Ihemeje
