Naira redesign policy: Supreme Court adjourns suit seeking to stop policy implementation

By Ibiyemi Mathew

The Supreme Court has adjourned the hearing of a suit to stop the full implementation of the naira redesign policy introduced by the Central Bank of Nigeria (CBN) until February 22.

The suit was filed by the governors of Kaduna, Kogi and Zamfara states against the Federal Government seeking a restraining order.

The CBN had said that N1000, N500 and N200 old naira notes would cease to be legal tender from February 10, but three Northern governors – El-Rufai, Yahaya Bello and Bello Matawale had dragged the FG to court on February 3.

At the start of the case on February 8, the Supreme Court restrained the FG from implementing the deadline pending a hearing on Wednesday.