The Supreme Court on Wednesday temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023.
A seven-member panel led by Justice John Okoro halted the federal government plan in a ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.
Daily News 24 reports that the February 10 deadline for the currency swap announced by the Central Bank of Nigeria pitted Governors Nasir El-Rufai of Kaduna, Yahaya Bello (Kogi) and Bello Matawalle (Zamfara) against 14 political parties which threatened to boycott the February 25 election, should the CBN extend the time limit.
This is as a High Court of the Federal Capital Territory restrained the President Muhammadu Buhari, CBN, its Governor Godwin Emefiele and 27 commercial banks from suspending, stopping, extending or interfering with the currency swap terminal date.
