JUST IN: Supreme Court restrains FG from enforcing naira deadline
The Supreme Court forbids the FG from imposing the naira deadline
The Federal Government and the Central Bank of Nigeria (CBN) are prohibited from enforcing the February 10 deadline for the phase-out of the old naira notes by a temporary injunction obtained by the Supreme Court.
A five-member court panel headed by Justice John Okoro determined that the matter was urgent enough for the court to step in and issue the injunction.
The state governments of Kaduna, Kogi, and Zamfara submitted the ex-parte motion, and the decision was made on it.
Justice Okoro, who read the lead decision, stated that the order will remain in effect awaiting the hearing and decision of the state’s application on notice for interlocutory injunctions.
The court took a break.
The defendant, the Attorney General of the Federation (AGF), who is disputing the court’s jurisdiction over the matter, moved for notice, and the court adjourned until February 15 for the hearing.
