Federal Capital Territory’s High Court at Wuse Zone 2 issued an order prohibiting President Muhammadu Buhari and the Central Bank of Nigeria from altering or interfering with the February 10 deadline for the use of outdated banknotes (N200, N500, and N1,000).
The order was made following a case brought by Action Alliance, Action Peoples Party, Allied Peoples Movement, and the National Rescue Movement.
The court ruled that the President and the CBN, along with 27 commercial banks, must not change the current termination date for using the old banknotes.
The ruling also stated that the heads of commercial banks must explain why they should not be arrested and charged with economic and financial sabotage.
The interim order will last for 7 days and the matter has been adjourned until February 14 for further hearing.
The government of Kogi, Kaduna, and Zamfara states also took the federal government to the Supreme Court on the same day. Attempts to get a reaction from the Presidency were unsuccessful.
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