The Central Bank of Nigeria, CBN, has been prohibited from extending the deadline for the use of the old naira notes by a Federal Capital Territory, FCT, High Court.
The court also mandated that the CBN put the new naira into full circulation.
On Monday, presiding judge Eleojo Enenche issued the directive while rendering a decision in a case with the case number FCT/HC/CV/2234/2023.
“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.
The CBN had set January 31st as the deadline for the exchange of old naira notes with the redesigned ones.
CBN had redesigned N200, N500, and N1000 notes.
Amid the outcry that occasioned the scarcity of the naira, the apex bank had extended the deadline till February 10.