The Supreme Court on Wednesday fixed March 3, 2023 to deliver judgement on the suit filed by 10 governors against the Central Bank of Nigeria’s (CBN) Naira redesign policy
The CBN still insisted on the February 10 deadline and had stopped banks from collecting old the N500 and N1,000 notes despite the apex court’s order restraining it from carrying out the move.
Everyone thought reprieve has come the way of the masses when the Supreme Court granted an interim injunction to allow the old naira notes to be in circulation pending the determination of the case filed by some governors against the obnoxious policy of the apex bank.
The Supreme Court had in a ruling on 8 February granted an interim injunction that the CBN and the federal government should suspend the implementation of the February10 deadline for the expiration of the legal tender status of the old N200, N500 and N1000 notes.
On 15 February the apex court affirmed the ruling.
This, it said, should be pending until the hearing and determination of a suit before it slated for February 22.