News

SERAP Sues Buhari Over Ban On N500, N1000 Notes

Published

3 years ago

February 20, 2023

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over his directives banning the use of old N500 and N1,000 notes.
The group said the President’s directives was unlawful and contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 notes remain legal tender.
Joined in the suit as defendants are the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, and the Central Bank of Nigeria (CBN).
Recall that the Supreme Court in a case initially brought by 10 states recently held that the old banknotes remain legal tender pending the determination of a motion on notice fixed for February 22. The deadline for the swap of the old notes expired February 10.
However, Buhari in a national broadcast last Thursday directed the CBN to recirculate only the old N200 banknotes, banning the use of old N500 and N1,000 notes in the country.
In the suit number FHC/ABJ/CS/233/2023 filed last Friday at the Federal High Court, Abuja, SERAP is asking the court to determine “whether Buhari’s directive banning the N500 and N1,000 banknotes is not inconsistent and incompatible with the constitutional duties to obey decisions of the Supreme Court and oath of office.”
SERAP is also asking the court for “a declaration that Buhari’s directive banning the use of old N500 and N1,000 banknotes is a fundamental breach of section 287(1) of the Nigerian Constitution 1999 (as amended) and his constitutional oath of office, and therefore unconstitutional, unlawful, null and void.”
It also seeks an order of interim injunction restraining President Buhari, the CBN and Malami, their agents or privies, from further enforcing the presidential directive banning the old N500 and N1,000 banknotes, pending the hearing and determination of the motion on notice filed in its suit.
The suit was filed on behalf of SERAP by its lawyers Ebun-Olu Adegboruwa, SAN, and Kolawole Oluwadare.
SERAP is also asking the court for the following reliefs:
A declaration that by virtue of section 287(1) of the Nigerian Constitution, 1999, Buhari, the CBN and Malami have a constitutional duty to obey and enforce any decisions and orders of the Supreme Court, particularly the order allowing the use of old N200, N500 and N1,000 banknotes;
An order restraining and stopping the CBN from carrying out and giving effect to the directive of the President directing and approving that the old N500 and N1,000 banknotes are no longer legal tender and the old N200 banknote will cease to be legal tender on April 10, 2023, in compliance with the order of the Supreme Court of Nigeria made on February 8, 2023 in the Suit Number SC/CV/162/2023 – Attorney General of Kaduna State & two Ors v. Attorney General of the Federation;
And an order for the CBN to direct all commercial banks in Nigeria to accept and give out the old N200, N500, and N1,000 banknotes as legal tender concurrently along with the new banknotes of the same denomination in line with the order of the Supreme Court.
No date has been fixed for the hearing of the suit.

News

Tinubu Commissions Bayelsa Gas Turbine, Other Projects Today

Published

10 minutes ago

April 10, 2026

The Tide

President Bola Tinubu is expected to inaugurate four legacy projects, including a state-owned gas turbine, during a one-day state visit to Bayelsa State, today.

To this effect, the Bayelsa State Government has declared Friday (today) a work-free day, and ordered the closure of markets ahead of the President’s visit.

The state Commissioner for Information, Orientation and Strategy, Ebiuwou Koku-Obiyai, disclosed this yesterday in Yenagoa, the state capital.

She said, “As we all know that the state is ready and we are ready as a people to receive the father of the nation, our father and leader in the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, who will be in the state on a one-day visit to inaugurate four legacy projects.

“In view of this, the state government has declared tomorrow, Friday, April 10, 2026, a work-free day to enable workers and other residents of the State to participate in the programmes lined up for the one-day official visit to Bayelsa State.”

According to her, Tinubu is expected to inaugurate key projects during the visit, including a state-owned gas turbine at Opolo-Elebele, a 60-kilometre dual carriageway from Onopa to the LNG axis, and a 630-metre bridge linking Angiama to Oporoma in Southern Ijaw Local Government Area.

Koku-Obiyai urged residents, including traders, to comply with the directive and turn out to welcome the President.

The government said the measures were part of efforts to ensure a smooth and successful visit.

The Tide reports that Bayelsa is the third state President Tinubu will visit for project commissioning in the last one week.

The President was in Ogun State last Saturday to commission the Gateway International Agro-Cargo Airport, Iperu, together with the state’s new airline, Gateway Airline, and its two newly acquired aircraft.

He also inaugurated logistics and trade infrastructure, and launched the Nigeria Customs Service’s N73bn hub that has a residential barracks, training college, warehouse and hospital.

The president also launched mobility, security and agriculture assets, including 1,000 electric motorcycles (EV bikes), and 80 units of security vehicles.

Tinubu was also in Lagos on Wednesday on a two-day state visit to commission key legacy projects of the Governor Babajide Sanwo-Olu administration.

Though represented by the Senate President, Senator Godswill Akpabio, the president inaugurated the newly constructed Ojota-Opebi Link Bridge, Lagos State Geographic Information Service (LAGIS) building, and Lagos Multi-Agency Building in Alausa.

Other notable projects commissioned by the President were Lagos Fresh Food Hub in Abijo, Ajah, Tolu Schools Complex in Ajegunle, and Maracana Stadium, comprising 19 mini-football pitches, built side-by-side in Ajegunle.

News

RSG Seeks Horticulturists’ Partnership To Restore Garden City Status

Published

50 minutes ago

April 10, 2026

The Tide

The Rivers State Government has called for stronger collaboration with horticulturists as part of renewed efforts to restore the aesthetic appeal and environmental quality of Port Harcourt, in line with its urban renewal agenda.

The Commissioner for Urban Development, Sir Amairagha Edward Hart, made the call during an interactive session with private horticulturists and flower dealers at his office in Port Harcourt, recently.

He said the present administration remains committed to reviving the famed Garden City status of the state capital through deliberate policies and strategic partnerships, noting that professionals in horticulture have a key role to play in achieving that vision.

The Commissioner stressed that the state government is placing high premium on environmental sustainability, beautification of public spaces, and the creation of a serene urban atmosphere that reflects global best practices.

The Commissioner urged horticulturists to align their operations with government’s urban development guidelines, adding that their expertise and experience are essential in transforming Port Harcourt into a model city.

According to him, the collaboration will not only enhance the city’s visual appeal but also contribute to improved environmental health and economic opportunities for practitioners in the sector.

He, however, cautioned against practices that undermine urban order, particularly the obstruction of walkways and indiscriminate occupation of public spaces meant for other uses.

Hart emphasized that while the government encourages business growth, such activities must be carried out in a manner that supports urban planning objectives and promotes public convenience.

In a move to further support the sector, he disclosed plans by the Ministry to establish a dedicated “Flower Village” that will serve as a central hub for horticulturists and flower dealers across the state capital.

He explained that the proposed initiative is aimed at restoring sanity to the use of walkways and road corridors, while also creating a structured environment that will enhance business operations and boost revenue generation.

Responding on behalf of the practitioners, Evang. Caroline Nabo highlighted some of the challenges faced by horticulturists, including theft of plants and materials by scavengers and scrap metal dealers.

She appealed to the state government for intervention to safeguard their investments, even as she and other stakeholders commended the Ministry’s proactive steps and pledged their support towards the successful greening and beautification of Port Harcourt.

King Onunwor

News

TUC Demands Subsidy To Cushion Rising Fuel Prices

Published

1 hour ago

April 10, 2026

The Tide

The Trade Union Congress of Nigeria (TUC ) has called on the Federal Government to deploy excess crude oil revenue to subsidise local refineries as a way of cushioning the impact of rising fuel prices on Nigerians.

President of the Congress, Festus Osifo, who made the call during a press briefing in Abuja, yesterday, warned that the price of Premium Motor Spirit could climb to as high as N2,000 per litre if urgent measures are not taken.

Osifo said the persistent increase in the pump price of petrol, driven by global crude oil price volatility and exchange rate challenges, has worsened the economic hardship faced by Nigerian workers.

The TUC leader attributed the surge partly to international developments, including tensions involving the United States, Israel and Iran, which have affected global oil supply dynamics.

Osifo also linked the rising cost of petrol to the depreciation of the naira, warning that the continued weakening of the currency is compounding inflationary pressures and reducing the real value of workers’ earnings.

To address the situation, the TUC president proposed that the government should utilise excess revenue generated when crude oil prices exceed the budget benchmark to support local refining.

He explained that with the 2024 budget benchmarked at $64.85 per barrel, any price above that threshold results in additional revenue shared by the three tiers of government, adding that at least 60 per cent of such excess funds should be channelled into subsidising crude supplied to domestic refineries, including the Dangote Refinery and other modular refineries.

He also urged authorities to take deliberate steps to stabilise the currency, noting that exchange rate stability would significantly reduce the cost of imported energy and other goods.

The TUC said it would formally communicate its proposals to the Federal Government, including the Presidency, with a view to ensuring the prompt implementation of measures to ease the hardship facing Nigerians.

He said, “Today, the cost of petrol is heading towards N2,000 per litre, depending on the part of the country that you are in. It has deeply affected the purchasing power of the salaries that we earn as Nigerian workers.

“Let the government take that excess fund that was never budgeted for, take at least 60 per cent of it, and use it to subsidise the crude being supplied to Dangote Refinery.

“The same should be done for Dangote Refinery and all modular refineries, where crude is supplied to them at that subsidised rate.

“Take the difference from the excess crude revenue, take about 60 per cent of it, and use it to subsidise the price at which crude is supplied to the refinery.

“When you subsidise crude, it cannot be abused because you are subsidising production directly. When that is done, we are going to see an immediate reduction in the price of petroleum products.”