The Supreme Cot Friday struck out the suit instituted by 16 northern states seeking a court order to compel the Federal Government to refund to them N7.3 billion, being outstanding value of the assets of the defunct Northern States Marketing Board (NSMB) forcefully taken over by the apex government.
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Seven justices of the court, including the Chief Justice of Nigeria, Justice Mariam Mukhtar held that the case was statute-barred having been filed outside the time limit allowed by the Limitation Act for the recovery of such debt.
The court, in a judgment delivered by Justice Mary Peter-Odili said the cause of action arose in 1983, precisely July 27th when the Federal Government acknowledged the debt.
Justice Peter-Odili held that the suit filed by the 16 states on February 22, 2011, "was an action in futility, the cause of action having expired after six years of its accrual computed from July 27, 1983."
According to her, the jurisdiction of the Supreme Court to hear the suit has been effectively ousted by operation of section 7(1) (e) Limitation Act Cap 522 Laws of the Federation of Nigeria, 1990.
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