Supreme Court Makes Crucial Decision on New Naira Suit Against FG, CBN

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Supreme Court Adjourns Lawsuit Against FG On Old Naira Notes

The suit filed by governors to challenge the Central Bank of Nigeria’s (CBN) re-design of the naira has been postponed until February 22 by the Supreme Court.

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The CBN had originally set January 31 as the deadline for old notes to be in circulation, but due to pressure from Nigerians, it extended the deadline.

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However, prior to the February 10 deadline, Kogi, Kaduna, and Zamfara States petitioned the Apex Court to prevent the CBN from enforcing the deadline.

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In a recent hearing of the suit filed by the Governor’s of the affomentioned states, the Supreme Court adjourned the case till February 22.

Meanwhile, banks have stopped collecting the old naira notes in some parts of the country and has again sparked riots in various towns.

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