The three APC-controlled states of Kaduna, Kogi, and Zamfara petitioned the Supreme Court, which issued the ruling
The Central Bank of Nigeria (CBN) was given a directive by the Supreme Court on Wednesday to postpone the 10 February deadline for the use of old naira notes.
According to the News Agency of Nigeria (NAN), a seven-member court panel chaired by John Okoro issued the temporary injunction due to a severe shortage of freshly redesigned N200, N500, and N1,000 banknotes.
In a decision on an exparte suit filed by the three states of Kaduna, Kogi, and Zamfara, a seven-member panel led by Justice John Okoro halted the federal government proposal.
This comes as the President, Major General Muhammadu Buhari (ret. ), the CBN, its Governor Godwin Emefiele, and 27 commercial banks were prohibited by a Federal Capital Territory High Court from suspending, stopping, extending, or meddling with the currency swap terminal date.
Benue State Governor Samuel Ortom had earlier joined the National Assembly to call on President Muhammadu Buhari and the Central Bank of Nigeria (CBN) to extend the deadline for the removal of old Naira notes from circulation until June 2023.
