Old Naira Notes: Court Bars Buhari, CBN From Extending Deadline

Federal Capital Territory (FCT) High Court has compelled the Central Bank of Nigeria (CBN) to go ahead with the full implementation of the naira redesign policy.

Delivering a ruling on Monday in a suit marked FCT/HC/CV/2234/2023; the court restrained the CBN from extending the deadline on the use of old naira notes.

The CBN, President Muhammadu Buhari, and several banks were included as defendants in the suit.

Eleojo Enenche, the judge of the FCT High Court, ordered the CBN not to extend the deadline pending the determination of the suit.

“An order of interim injunction is hereby made restraining the defendants whether by themselves, staff agents, officers, interfacing banks or whosoever not to suspend, stop, extend, vary or interfere with the extant termination date of use of the old N200, N500, and N1000 bank note being 10th day of February, 2023, pending the hearing and determination of motion on notice,” the court held.