x

Supreme Court restrains FG, CBN from implementing new naira policy

THE Supreme Court of Nigeria has restrained the Federal Government from implementing the February 10 Deadline of the old 200, 500 and 1000 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 in respect of the issue on February 15.

By this ruling, the old Naira notes continue to be legal tenders in Nigeria.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

FG trains over 175 youths from the North Central region of Nigeria 

By Israel Adamu, Jos  The Federal government through the office...

Bayelsa Deputy Governor Lauds Diri’s Leadership on 66th Birthday

Amgbare Ekaunkumo, Yenagoa   Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo,...

Wike To Deliver OAU Distinguished Personality Lecture

By Joyce Remi-Babayeju The FCT Minister, Barr. Nyesom Wike, on...

Breaking: Tinubu To Commence 10 Projects Commissions In Abuja, Satellite Towns

By Joyce Remi-Babayeju President Bola Ahmed Tinubu is set to...

NCPC Re-strategize For 2025 Pilgrimage, Holds Staff Retreat

By Joyce Remi-Babayeju In a bid to restrategize to ensure...

Regina Daniels Accuses Angela Okorie of Pursuing Her Husband Amid Ongoing Feud

Nollywood star Regina Daniels has fired back at fellow...

Amaechi Responds to Wike: “I Won’t Engage in Childish Insults”

Former Minister of Transportation, Rotimi Amaechi, has fired back...

FG to Sanction Federal Tertiary Institutions Over Unapproved Satellite Campuses

The Federal Government has issued a stern warning to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img