BY: News Peddlers
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| Mr. Goodwin Emefiele CBN Governor |
The Supreme Court has blocked the Central Bank of Nigeria from discontinuing the use of old Naira notes on February 10th.
The order was issued in response to a petition filed by three APC-controlled states: Kaduna, Kogi, and Zamfara.
According to the News Agency of Nigera (NAN), the Supreme Court issued an interim order on Wednesday prohibiting the central bank from discontinuing the use of old naira notes on February 10.
The order was issued in response to a petition filed by three APC-controlled states: Kaduna, Kogi, and Zamfara.
The Central Bank of Nigeria (CBN) announced in October that it would redesign the N200, N500, and N1,000 banknotes.
The CBN governor, Godwin Emefiele, announced that the old banknotes would expire on January 31.
However, due to public outcry over currency scarcity, Mr Emefiele extended the deadline until February 10th. He also stated that money deposit banks would continue to accept old banknotes after the deadline.
Despite the deadline extension, there is still a scarcity of new notes.
Details short.....