The Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN), to ensure the enforcement of its February 10, 2023, deadline of the old naira notes.
Justice Eleojo Enenche, gave the order on Monday in a ruling on an ex parte application by four opposition political parties which includes, Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM) and National Rescue Movement (NRM) – in their application alleged that the CBN’s new monetary policy was being sabotaged by Nigerian banks.
They sued President Muhammadu Buhari, the CBN and its governor, Godwin Emefiele, along with 25 Nigerian banks as defendants.
Ruling, the judge issued an order restraining the CBN from suspending or interfering with the currency redesign deadline of 10 February.
The court ordered the defendant not to suspend, stop, extend, vary or interfere with the extant termination date of use of the old N200, N500, and N1,000 bank notes being 10 February, 2013 pending the hearing and determination of motion on notice.
