Supreme Court stop CBN and Buhari from implementing February 10 old naira notes deadline

New 200, 500 and 1,000 naira notes

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Supreme Court of Nigeria don grant interim injunction to stop Nigeria goment from implementing di February 10 Deadline to stop using di old 200, 500 and 1000 naira notes as legal tender.

Three Northern States, Kaduna, Kogi and Zamfara, bin file motion ex-parte on February 3rd, say make di top court stop Central Bank of Nigeria (CBN) naira redesign policy.

Motion ex-parte mean say court fit to make decision without hearing from all di parties for di mata, in dis case from di federal goment of Nigeria and di CBN.

All di seven-man panel of di Supreme Court wey Justice John Okoro lead, decide togeda say dem go grant interim injunction – temporary measure before dem go do di full hearing – to prevent di federal goment, CBN, commercial banks plus odas from implementing di 10 February, deadline for di old 200, 500 and 1000 Naira notes to stop being legal tender.

Di court add say FG, CBN, commercial banks must not continue wit di deadline pending di determination of a notice in respect of di issue on 15 February.

Dis court decision mean say di old naira notes go continue to be legal tenders for Nigeria.

Three APC govnors sue Nigeria goment

Drama na im Nigerians take begin di new week as political parties dey turn against each oda and even inside parties members dey fight demsef sake of di scarcity of di new redesigned naira notes.

With just five days remaining to di deadline for di use of old naira notes, three govnors of di ruling All Progressives Congress (APC), on Monday carry di federal goment of Nigeria go court sake of di new Central Bank of Nigeria (CBN) cashless policy.

Di issue of di redesigned currency don dey cause tension for di kontri sake of di scarcity of di new notes.

Di tension enta anoda level dis week as Govnors Nasi El-Rufai of Kaduna, Yahaya Bello of Kogi and Bello Matawalle of Zamfara of di ruling party drag di kontri goment, wey be part of dia APC party go Supreme Court, even though President Muhammadu Buhari first ask dem to give am seven days to torchlight di redesigned banknotes policy mata.

Di three govnors bin ask di court to give declaration say di Demonetization Policy wey di CBN under di order of di President Muhammadu Buhari dey carry out no dey according to di Constitution of di Federal Republic of Nigeria 1999 (as amended), Central Bank of Nigeria Act, 2007 and actual laws on di subject.

Dem also ask di court to make declaration say di three-month notice wey goment give and wey di CBN under di order of President of di Federal Republic of Nigeria tok, to stop di old note from being legal tender, dey against di provisions of Section 20(3) of di Central Bank of Nigeria Act 2007 wey say dem must to give reasonable notice and say limit no fit be outside di provision of Section 22(1) of the CBN Act 2007.

Di Attorney General and Commissioner for Justice, Kaduna State, Aisha Dikko, for one affidavit, say although dem know say di naira redesign policy go encourage cashless policy no be all transactions dem fit do conveniently through electronic means.