Supreme court restrains FG from effecting Feb 10 deadline on old naira notes

The Supreme court on Wednesday restrained the federal government from going ahead with the February 10 deadline for the use of the old naira notes.

A seven-member panel of the apex court led by Justice John Okoro, made the ruling in an ex parte application brought by three state governments.

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The Kaduna, Kogi and Zamfara states government had dragged the federal government to court over the scarcity of some naira notes due to the central bank naira redesign policy.

The states government expressed worry over the economic impact the policy is having on the residents of their respective states.