Barely two days to the deadline for Naira swap by Central Bank of Nigeria (CBN), the Supreme Court on Wednesday temporarily stopped the withdrawal of old naira notes from February 10.
A seven-member panel led by Justice John Okoro, halted the move in a ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara, according to News Agency of Nigeria (NAN) report.
The three states specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for an interlocutory injunction”.
