Court order restraining extension of naira redesign dateline receives nationwide commendation
Following a court order restraining President Buhari, the CBN Governor, and twenty-seven listed commercial banks from suspending, stopping, extending, or interfering with the February 10 dateline of swapping redesign naira notes, Nigerians in various capacities have applauded the justice system.
The High Court Holden in Abuja before Justice Eleojo Enenche ordered the CBN to fully implement the redesigned naira in a suit marked FCT/HC/CV/2234/2023, on Monday.
READ ALSO: How not to redesign the naira, by Hassan Gimba
Applauding the court’s ruling, ethnic youth groups including Arewa, Ohanaeze, and Oduduwa youths said that looters of the nation’s commonwealth have lost.
The groups made this known in a joint statement issued by Ohanaeze Youth Secretary General, Nwada Amaka, and said the order will motivate stakeholders to concentrate on how to ameliorate the hardship occasioned by the naira redesigned policy and expose top bank officials and their staff, who have allegedly been hoarding and trading the new banknotes while causing untold hardship to ordinary citizens.
READ ALSO: Naira Crisis: Buhari, Emefiele, governors, EFCC boss meet in Abuja
Despite the CBN extending the deadline for the exchange of old naira notes with the redesigned N200, N500, and N1000 notes from January 31st to February 10th, the outcry that occasioned the scarcity of the naira has been on a high rise.
Recently, state governors of Kaduna, Kogi, and Zamfara have dragged the federal government to the Supreme Court asking for an order to reverse the naira redesign policy or at least extend the use of the old naira notes till the end of 2023.
In the ruling on Tuesday, the court held, “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 the motion on notice.”
Neptune Prime recalls that the CBN Governor Godwin Emiefele has reiterated that the apex bank would not extend the deadline for the swapping of the redesigned naira notes.
Emiefele, during the unveiling of the new notes by President Muhammadu Buhari, told Nigerians that the policy would checkmate financial malpractices and fight corruption.
However, citizens are finding it hard to deposit their old naira notes and to obtain new ones, while those in rural areas complain of not having banking services to carry out the swapping order within the stipulated dateline.
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