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New naira: FG makes fresh move against supreme court ruling on old notes

The Federal Government has asked the Supreme Court to dismiss a suit challenging the February 10 deadline for the circulation of old naira notes.

The Central Bank of Nigeria (CBN), which redesigned the naira, had fixed January 31 as the deadline of the old notes to be legal tender.

But the deadline was extended to February 10 after intense pressure on the government and the apex bank.

Last week, Godwin Emefiele said the apex bank was not considering extending the deadline.

The All Progressives Congress (APC) Governors had met with President Buhari over the issue and the president asked them to give him seven days to look into it.

But the governments of Kaduna, Kogi, and Zamfara states headed for the court to challenge the CBN.

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