Supreme Court To FG: Old Naira Deadline Must Not Be Enforced

An order of interim injunction, restraining the Federal Government of Nigeria (FGN) and the Central Bank of Nigeria (CBN) from enforcing the February 10 deadline for the phasing out of the old naira notes, was on Wednesday issued by the Supreme Court of Nigeria.

The apex court, presided over by Justice John Okoro, held that it was a matter of urgent national importance that the court intervene and grant the order.

Justice John Okoro's decision came sequel to an ex-parte motion filed by the governments of Kaduna, Kogi and Zamfara States.

According to the Supreme Court in its judgment delivered by Justice Okoro, the order is to subsist pending the hearing and determination of the motion on notice filed by the states for interlocutory injunctions.

The matter was then adjourned until February 15 for the hearing of the motion on notice and the preliminary objection filed by the defendant, the Attorney-General of the Federation (AGF), challenging the court’s jurisdiction over the case.

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