Naira redesign – Need for the President to consult with States before issuing a directive for the redesign of Naira notes by the Central Bank of Nigeria-

The need for the President to engage in consultations with States or relevant federal executive bodies before issuing directives for the redesign of Naira notes by the Central Bank of Nigeria is not explicitly mandated by the Constitution of the Federal Republic of Nigeria. The Constitution does not explicitly state that the President must seek input from constituent States of the Federation, the National Economic Council, the Federal Executive Council, the National Security Council, or other stakeholders before exercising executive powers related to Naira note redesign or implementing a cashless policy by the Central Bank of Nigeria. However, this duty on the President can be inferred from the provisions of section 5(1) of the 1999 Constitution, which designates the President as an agent of the Federation. Additionally, in a democratic Federation, States, as integral components, possess an inherent right to be consulted by the President before the execution of any executive power that significantly impacts the governance, economy, and social structure of each constituent State within the Federation. This right is inherent in the concept of a democratic Federation, and its absence would undermine the Federation’s sovereignty, potentially leading to an undesirable concentration of power with the President and the risk of a dictatorial government in Nigeria.
(Supreme Court of Nigeria in A.-G., Kaduna State v. A.-G., Federation (2023) 12 NWLR (Pt. 1899) 537)