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Supreme Court Restrains FGN From Enforcing Feb 10th Naira Swap Deadline

Godwin Emefiele and New Naira
CBN Governor and New Naira Notes (Credit: BBC)

The Supreme Court sitting in Abuja, today , restrained the federal government from banning the use of the old naira notes from the deadline date of February 10th, 2023.

Three northern states of Kaduna, Kogi and Zamfara had gone to the Supreme Court with an exparte application to stop the deadline.

The states had asked for an order of interim injunction restraining the federal government, Central Bank and Banks from enforcing the deadline and rejecting the old naira notes as legal tender.

A seven member panel of the court led by Justice Okoro granted the application pending the hearing and determination of the motion.

The case has been adjourned to February 15th for the hearing of the main suit.

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