New Naira Notes: Court Urged To Restrain CBN, Emefiele On Jan 31st Deadline

The Federal High Court in Abuja has been urged to among others, restrain the CBN and its Governor, Godwin Emefiele from implementing its January 31 deadline for the retrieval of the old 200, 500 and 1000 naira notes.

The request formed part of the reliefs being sought in a suit, filed by a Professor of Law, Joshua Alobo.

Alobo also told the court to issue a mandatory order, compelling the CBN to extend the “duration where the old notes cease to become legal tender to a period of three weeks when the redesign notes will be sufficiently dispensed by the commercial banks.”

Defendants in the suit are the CBN, Emefiele and the Attorney General of the Federation (AGF).