The High Court of the Federal Capital Territory has restrained the President of the Federal Republic of Nigeria, the Central Bank of Nigeria, and the Governor of the CBN, Godwin Emefiele from suspending, extending or interfering with the currency redesign terminal date of February 10, 2023.
Justice Eleojo Enenche while granting the order by four political parties also granted an order directing the CEO’s of the banks to show cause why they should not be arrested and prosecuted for the illegal hoarding and withholding of the new N200 N500 and N1000 bank notes to the public, despite supply of such notes by the Central Bank.
Also Read: CBN pegs N7,000 withdrawal limit for Corps Members
The claimant in the suit are Action Alliance, AA; Action People’s Party, APP; Allied People’s Movement, APM and National Rescue Movement, NRM.
Other defendants who are to adhere to the court order include Guaranty Trust Bank, Zenith Bank Plc, First Bank of Nigeria Limited, and 24 other listed commercial banks.
In the motion, the claimants prayed among others, for the court to restrain the defendants from extending or interfering with the currency redesign terminal date of February 10 or issue any directive contrary to the deadline.
Justice Enenche however adjourned to February 14, to hear the substantive suit.
(Editor: Terverr Tyav)
