Naira crisis: Emefiele, Malami risk jail time as state govs file contempt proceedings against them

The Kaduna, Kogi and Zamfara State governments have filed a contempt proceeding against the Attorney General of the Federation, Abubakar Malami and the Governor of Central Bank of Nigeria, Godwin Emefiele, for failing to comply with the order of the Supreme Court suspending the ban on the old N200, N500 and N1,000 notes.

A fresh proceeding was filed before the Supreme Court on Tuesday.

The three state governments had initially filed a suit against the Federal Government and the CBN on February 3 over the naira redesign policy.

Details later…