Kaduna, Kogi , Zamfara In Court Against FG, CBN Over Deadline For Naira Swap - EDU-BIZNEWS

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Monday, February 6, 2023

Kaduna, Kogi , Zamfara In Court Against FG, CBN Over Deadline For Naira Swap




Governments of Kaduna,Kogi and Zamfara States are now before the Supreme Court, challenging the Federal Government and its agent, the Central Bank of Nigeria (CBN) over the 10th of February, 2023 extension fixed as deadline for the old notes of N200, N500 and N1,000 to seize as acceptable legal tender for exchange for goods and services

The three states being controlled by the same ruling All Progressives Congress (APC) in the country, through their counsel, Abdulkareem Mustapha in the suit, is asking for an order of the apex court to suspend the deadline for the stoppage of the old notes pending the determination of the substantive application before it

No date fix for the hearing of the application 

The new naira notes and cash swap policy are subjecting Nigerians to serious hardship as they now struggle daily for past two weeks on long queues to get cash from the Automated Teller Machines of commercial banks across the country

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