By Harry Awurumibe, Editor Abuja Bureau
True to its promise to head to the court of competent jurisdiction to obtain an injunction against the Central Bank of Nigeria (CBN) and President Muhammadu Buhari, opposition group, the Coalition of United Political Parties (CUPP) on Monday received the greenlight as
a Federal Capital Territory (FCT) High Court, Abuja has barred the President and CBN
from suspending or interfering with the Currency Redesign Terminal Date (February 10) and Cash Limit Policy.
The Court in its order restrained the CBN from extending the deadline on the use of old naira notes of February 10, 2023.
In a motion by Five Political Parties, Justice Eneojo Eneche of the FCT High Court also granted an order directing the Chief Executive Officers (CEOS) of the banks, to show cause why they should not be arrested and prosecuted for the financial sabotage of the country, by illegally hoarding and not disbursing the new N200, N500, and N1000 bank notes, despite the supply of such notes by the central bank.
The Court held, “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,”
