Federal High Court Gives Verdict on Case Against CBN’s Naira Redesign Policy
The Federal High Court in Awka has dismissed the suit brought by the Incorporated Trustees of African Initiative Against Abuse of Public Trust to halt the Central Bank of Nigeria (CBN), its Governor Godwin Emefiele, and Attorney General of the Federation (AGF), Abubakar Malami from furthering the plans of the new naira.
The court dismissed the suit that sought to prevent the CBN and its agents from taking additional steps to implement the naira redesign policy.
According to the court ruling in the Certified True Copy of the enrolled order dated January 31, 2023 obtained by The newsmen, the parties requested that the trial judge, A. Nganjiwa, dismiss the lawsuit after reviewing the facts and arguments.
The court also awarded N300,000 in costs against the plaintiff in favour of the Central Bank of Nigeria and Godwin Emefiele, the first and second defendants, respectively.
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