BREAKING: Naira Redesign: 3 APC Governors Sue Buhari, Emefiele
Kaduna, Kogi and Zamfara state governments have filed a suit against the Buhari-led administration seeking a restraining order to stop the full implementation of the naira redesign policy of the Central Bank of Nigeria (CBN).
Worried by the effects of the Central Bank of Nigeria (CBN)’s naira redesign policy is having on the residents of their states, they urge the apex court to grant them an interim injunction stopping the Federal Government either by itself or acting through the CBN, the commercial banks or its agents from carrying out its plan of ending the timeframe within which the now older versions of the 200, 500 and 1000 denominations of the Naira may no longer be legal tender on February 10, 2023.
in a motion ex-parte filed before the supreme court, the three northern states are praying the court to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1000 notes will cease to be legal tender.
The plaintiffs said since the announcement of the policy, there has been an acute shortage in the supply of the new naira notes in Kaduna, Kogi, and Zamfara states, adding that citizens who have dutifully deposited their old currency notes have increasingly found it difficult and sometimes next to impossible to access the new notes for their daily activities.
More details to follow….