The supreme court has granted the prayers of the Kaduna, Kogi and Zamfara states halting the FG from banning the use of the old Naira notes on the 10th of February as directed by the CBN.
The three states had applied for an interim injunction to restrain the federal government through the CBN or any other arm of government the full implementation of the policy.
Mr. A. I Mustapha SAN council to the states prays the court to grant the application due to the scarcity of the new notes and also to ease the pains of the masses who are in dire situation as the policy has grounded commercial activities.
He stated " the policy has led to an excruciating situation that is almost leading to anarchy in the land".
Delivering the ruling Honorable Justice Okoro held that after careful consideration of the motion the court has granted " An order of interim injunction restraining the federal government through CBN or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older 200,500,1000 denominations of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction. "
He also adjourned to February 15, 2023 for hearing of the main suit.
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