Deadline for old Naira notes

2023 - 2 - 8

Post cover — Image courtesy of "CHANNELS TELEVISION"

BREAKING: Supreme Court Restrains CBN From Implementing ... (CHANNELS TELEVISION)

BREAKING: Supreme Court Restrains CBN From Implementing Deadline For Old Naira Notes Validity ... The implication of this ruling is that the old N200, N500 and ...

The CBN had on October 26, 2022, announced its plan to redesign the three banknotes. It is one of the few occasions where the Supreme Court act as the original jurisdiction. “We invoke the original jurisdiction of the Supreme Court when there is a dispute between the state government and the Federal Government. As we can all see, banks are being harassed, Nigerians are suffering, especially the downtrodden, even in the urban areas they are having difficulty, but it is more excruciating in the rural areas. Whilst the Kaduna, Kogi and Zamfara governments dragged the Federal government before the Supreme Court, seeking an extension to the February 10 deadline, five political parties took the matter to the Federal Capital Territory (FCT) High Court and secured an order barring the Federal Government and the apex bank from any extension of the deadline. “So, the three state governments – Zamfara, Kaduna and Kogi deemed it fit for us to invoke the powers of the Supreme Court to intervene.”

UPDATED: Supreme Court stops CBN from stopping use of old ... (Premium Times)

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 suspends CBN deadline on old, new naira notes swap (Guardian)

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).

New naira notes deadline: Supreme Court restrain CBN, Nigeria ... (BBC News)

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.

Supreme Court Suspends Deadline on old Naira Notes – Voice of ... (Voice of Nigeria)

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.

IMF advises CBN to extend Feb 10 deadline for old naira notes (TheCable)

The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to extend the February 10 deadline for the use of old...

[temporarily restrained](https://www.thecable.ng/breaking-supreme-court-restrains-fg-from-effecting-feb-10-deadline-on-old-naira-notes/amp) the federal government from banning the use of the old naira notes from February 10. The deadline for the validity of old naira notes was [International Monetary Fund](https://www.imf.org/en/home) (IMF) has advised the Central Bank of Nigeria (CBN) to extend the February 10 deadline for the use of old naira notes if the difficulties in getting new notes persist.