Concerned with the effects the Central Bank of Nigeria (CBN)’s naira redesign policy is having on the residents of their respective states, the governments of Kaduna, Kogi and Zamfara have dragged the Federal government before the Supreme Court.
The governors are seeking a restraining order to stop the full implementation of the policy which takes effect on February 10.
In a motion ex-parte filed on their behalf by their lawyer, AbdulHakeem Uthman Mustapha (SAN), the three northern states are urging the apex court to grant them an interim injunction stopping the Federal Government either by itself or acting through the CBN, the commercial banks or its agents from carrying out its plan of ending the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the Naira may no longer be legal tender on February 10, 2023.
The governors have been at loggerheads with the CBN over the short notice and the impact of the policy.
The governors met the President last week and he promised to look at the issues within seven days.
