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Thursday, May 23, 2024

Kaduna, Kogi, Zamfara Govts sue FG over Naira redesign policy

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Three State Governments, Kaduna, Kogi and Zamfara, have dragged the Federal Government to the Supreme Court seeking a restraining order to stop the full implementation of the Naira redesign policy of the Central Bank of Nigeria (CBN).
In a motion ex-parte filed before the court, the three states are praying the court to grant an interim injunction stopping the CBN from ending the timeframe within which the old N200, N500, and N1000 notes will cease to be legal tender.
The plaintiffs said that since the announcement of the policy, there has been an acute shortage in the supply of the new Naira notes in their states, adding that citizens who have dutifully deposited their old currency notes have increasingly found it difficult and sometimes next to impossible to access the new notes for their daily activities.

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