The Supreme Court Wednesday gave an interim order stopping the central bank of Nigeria (CBN) from ending the use of old naira notes from 10 February, the News Agency of Nigera (NAN) reports.
A seven-member panel of the Supreme Court led by John Okoro, made the ruling on Wednesday in an ex parte application brought by the governors of Kaduna, Kogi and Zamfara states.
The Central Bank of Nigeria (CBN) last October announced that it was redesigning the N200, N500 and N1,000 banknotes.
Godwin Emefiele, the CBN governor, announced 31 January as the deadline for the expiration of the old banknotes.
But due to the public outcry trailing the currency scarcity, Mr Emefiele extended the deadline till 10 February. He added that money deposit banks would continue to receive the old banknotes even after the deadline.
Despite the deadline extension, however, the scarcity of new notes has persisted.
More to follow…
