THE Kano State Government has filed a lawsuit against the Federal Government over the naira redesign policy introduced by the Central Bank of Nigeria (CBN).

The suit was filed at the Supreme Court on Thursday, February 9.

The Kano State government is asking the apex court to reverse the policy for failure to comply with provisions the 1999 Constitution (as amended).

The state government said the policy would adversely impact the economic well-being of over 20 million Kano residents.

Among other reliefs sought, the state government asked for “A Declaration that the combined reading of the provisions of the section 148(2) of the 1999 constitution and Part 1, and Paragraph 19 of the Third Schedule thereof, the President cannot unilaterally without recourse to the Federal Executive Council and National Economic Council, respectively, give approval to the Central Bank of Nigeria for the implementation of cash withdrawal limit pursuant the demonetisation economic policy of the Federal Government of Nigeria”.

The Kano State government also asked the Supreme Court to declare that the President’s directive to the CBN on implemention of the cash withdrawal limits is null and void.

The Supreme Court had, on Wednesday, restrained the Federal Government from implementing the February 10 deadline for the use of old naira notes as legal tenders.

The court held that the CBN and the commercial banks shouldn’t continue with the deadline pending the determination of a suit filed by the Zamfara, Kogi and Kaduna state governments against the Federal Government and it’s naira redesign policy.