BREAKING; Nigerians hail the Supreme Court judgement restraining FG from enforcing naira deadline

 

Nigerians have hailed the Supreme Court judgement restraining the Federal Government of Nigeria and the Central Bank of Nigeria from enforcing the February 10 deadline for the phasing out of the old naira notes.

Those who reacted to the rulling delivered by the apex court this morning, described it as a victory for the masses.

The Supreme Court this morning issued an order of interim injunction restraining the Federal Government and the Central Bank of Nigeria (CBN) from enforcing the  February 10 deadline for the phasing out of the old naira notes.

A five-member panel of the court, led by Justice John Okoro held that it was a matter of urgent national importance that the court intervenes and grant the order.

The ruling was delivered by the apex court following an ex-parte motion filed by the governments of Kaduna, Kogi and Zamfara states

The three states had filed an ex-parte motion before the Supreme Court seeking to restrain the Federal Government and the Central Bank of Nigeria from implementing the February 10 deadline for phasing out the old the old currency notes.

Justice Okoro, read the lead ruling, restraining the Federal Government from implementing the February 10 deadline pending the hearing and determination of the motion on notice filed by the states for interlocutory injunctions.

The court adjourned till February 15 for the hearing of the motion on notice and the preliminary objection filed by the defendant - the Attorney General of the Federation (AGF), challenging the court's jurisdiction over the case.

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