JUST IN: SUPREME COURT BARS CBN FROM IMPLEMENTING FEBRUARY 10 DEADLINE OF OLD NAIRA USE
The Supreme Court of Nigeria has restrained the Federal Government from implementing the February 10 Deadline of the old N200, N500 and N1000 naira notes to stop being legal tender.
Three northern states — Kaduna, Kogi and Zamfara — had in a motion ex-parte filed on February 3rd, prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy.
A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The court further held that the FG, CBN, commercial banks must not continue with the deadline pending the determination of a notice on notice on in respect of the issue on February 15.
By this ruling, the old Naira notes continue to be legal tender in Nigeria.
Credit: Channels TV
More Stories
FUEL SUBSIDY WAS REMOVED TO PREVENT NIGERIA GOING BANKRUPT – TINUBU
President Bola Tinubu said the subsidy was removed to prevent Nigeria from going bankrupt. Tinubu stated this while speaking as...
I WILL NOT GOVERN RIVERS ON MY KNEES – FUBARA
Rivers State Governor Siminalayi Fubara has affirmed that he would not govern the state from a position of submission, amidst...
‘YOU EXPOSED YOUR IGNORANCE – LAMIDO BERATES NORTHERN GOVS OVER U.S TRIPS
Former Governor of Jigawa State and chieftain of the Peoples Democratic Party, PDP, Sule Lamido has lambasted the Northern governors...
GOSPEL SINGER MORENIKEJI ‘EGBIN ORUN’ IS DEAD
Popular Gospel singer Morenikeji Adeleke, also known as Egbin Orun, is dead. Her colleague Esther Igbekele, confirmed the death in...
HOW CELESTIAL CHURCH FOUNDER, OSHOFFA MANAGED 13 WIVES, 53 CHILDREN – SON
Olatosho Oshoffa, son of the Founder, Celestial Church of Christ, Worldwide, Bilewu Oshoffa, has revealed how the late spiritual leader...
TWO DRUG LORDS SENTENCED TO LIFE IMPRISONMENT, OTHERS ARRESTED
- Cocaine trafficking: Two notorious drug kingpins sentenced to life imprisonment - As NDLEA intercepts Italy-bound illicit consignment, arrests another...