The Central Bank of Nigeria (CBN) has been instructed to proceed with the full implementation of the redesigned naira by a high court in the federal capital territory (FCT).
In a decision made on Monday in the case with the file number FCT/HC/CV/2234/2023, the court barred the CBN from extending the time limit for using outdated naira notes.
The lawsuit named the CBN, President Muhammadu Buhari, and a number of banks as defendants.
The CBN was instructed not to extend the deadline while the lawsuit is still being decided by Eleojo Enenche, the presiding judge of the FCT high court.
“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,” the court held.