Court restrains CBN from extending deadline on use of old naira notes
A Federal Capital Territory, FCT, High Court has stopped the Central Bank of Nigeria, CBN, from extending the deadline for using the old naira notes.
The court also told the CBN to put the new naira into full use.
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On Monday, the judge in charge, Eleojo Enenche, gave the order in a case with the number FCT/HC/CV/2234/2023.
“An order of interim injunction is made restraining the defendants, whether by themselves, staff agents, officers, interfacing banks, or anyone else, not to suspend, stop, extend, change, or interfere with the current end date of use of the old N200, N500, and N1000 bank notes, which is February 10, 2023, until the motion on notice is heard and decided,” the court said.
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The CBN said that the old naira notes had to be traded in for the new ones by January 31.
In response to the uproar caused by the lack of naira, the apex bank pushed back the deadline to February 10.
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Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM), and National Rescue Movement (NRM) are the plaintiffs.
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