Deadline for old naira notes

The News Agency of Nigeria (NAN) reports that a seven-member panel of the court, led by John Okoro, gave the order of interim injunction amid acute scarcity of ...

has been well acknowledged even by the Federal Government of Nigeria.” Good journalism costs a lot of money. He added that money deposit banks would continue to receive the old banknotes even after the deadline. The presidential candidate of the APC, Bola Tinubu, had also publicly criticised the policy during a campaign stop. The applicants, on 3 February, filed their application at the Supreme Court praying for an order to restrain the CBN from ending the use of the old currency notes on 10 February as threatened by the bank. [Central Bank of Nigeria](https://www.cbn.gov.ng/) (CBN) not to end the use of old naira notes on 10 February.

Supreme Court on Wednesday ordered a suspension of the deadline for the swapping of old to new Naira notes by the Central Bank of Nigeria (CBN).

The states said the CBN policy is imposing a lot of hardship on Nigerians and insisted that the ten-day extension by the Federal Government is still insufficient to address the challenges of Nigerians swapping their old Naira notes for new ones. Kaduna, Zamfara, and Kogi State on Monday instituted a suit against the Federal Government at the Supreme Court over the scarcity of old and new Naira notes due to the CBN naira redesign policy. Supreme Court on Wednesday ordered a suspension of the deadline for the swapping of old to new Naira notes by the Central Bank of Nigeria (CBN).

The Supreme Court of Nigeria has restrained the Nigerian Government from continuing with the full implementation of the demonetisation policy.

The states added, in a supporting affidavit, that “contrary to the requirement for the naira redesign policy to be implemented within a reasonable time frame, the Federal Government of Nigeria has embarked on the policy within an unreasonable and unworkable time frame and this has adversely affected Nigerian citizens within Kaduna, Kogi and Zamfara states as well as their governments, especially as the newly redesigned naira notes are simply not available for use by the people as well as the state governments. By the ruling, the old Naira notes continue to be legal tenders in Nigeria. The Supreme Court of Nigeria has restrained the Nigerian Government from continuing with the full implementation of the demonetisation policy.

Supreme Court of Nigeria don grant interim injunction to stop Nigeria goment from implementing di February 10 Deadline to stop using di old 200, ...

Dem also ask di court to make declaration say di three-month notice wey goment give and wey di CBN under di order of President of di Federal Republic of Nigeria tok, to stop di old note from being legal tender, dey against di provisions of Section 20(3) of di Central Bank of Nigeria Act 2007 wey say dem must to give reasonable notice and say limit no fit be outside di provision of Section 22(1) of the CBN Act 2007. All di seven-man panel of di Supreme Court wey Justice John Okoro lead, decide togeda say dem go grant interim injunction – temporary measure before dem go do di full hearing – to prevent di federal goment, CBN, commercial banks plus odas from implementing di 10 February, deadline for di old 200, 500 and 1000 Naira notes to stop being legal tender. Supreme Court of Nigeria don grant interim injunction to stop Nigeria goment from implementing di February 10 Deadline to stop using di old 200, 500 and 1000 naira notes as legal tender.

The Supreme Court, on Wednesday restrained the Federal Government and the Central Bank of Nigeria ( CBN), from implementing...

I also understand that the Federal Government cannot bar Nigerians from redeeming their old naira notes at any time, even though the senior notes are no longer legal tender. “I know that if the Federal Government of Nigeria had given sufficient and reasonable time for the naira redesign policy, all the current hardship and loss being experienced by the Plaintiffs’ State Governments as well as people in the various states would have been avoided. She maintained that “ the majority of the indigenes of the Plaintiffs’ states who reside in the rural areas have been unable to exchange or deposit their old naira notes as there are no banks in the rural areas where the majority of the population of the states reside.