New Naira Notes: Courtroom Stops CBN from Shifting Deadline

(L-R) The Central Bank of Nigeria(CBN) Governor, Godwin Emefiele, President Muhammadu Buhari and the Minister of State for Finance, Budget and National Planning, Prince Clem Agba, unveiling the new naira notes to Nigerians — (L-R) The Central Financial institution of Nigeria(CBN) Governor, Godwin Emefiele, President Muhammadu Buhari and the Minister of State for Finance, Price range and Nationwide Planning, Prince Clem Agba, unveiling the brand new naira notes to Nigerians

Hours after three state governors took President Muhammadu Buhari and the Central Financial institution of Nigeria (CBN) to court docket over the February 10 deadline for the expiration of outdated naira notes, one other court docket has added a twist to the difficulty by giving a opposite order.

Justice Eneojo Eneche of the Federal Capital Territory (FCT) Excessive Courtroom on Monday, ordered the CBN and President Buhari and 27 industrial banks to not change the February 10 date.

In a movement by 5 political events, the court docket additionally granted an order directing the Chief Govt Officers (CEOS) of the banks, to point out trigger why they shouldn’t be arrested and prosecuted for the alleged monetary sabotage of the nation, by illegally hoarding and never disbursing the brand new N200, N500, and N1000 financial institution notes, regardless of provide of such notes by the as apex financial institution.