Court Bars CBN From Extending February 10 Deadline

A federal high court has barred the Central Bank of Nigeria (CBN) from suspending or interfering with the currency redesign end date of Febraury 20.

This was contained in a judgment delivered by Justice Eneojo Eneche on Tuesday.

In a motion filed by five political parties, the court also granted an order directing the Chief Executive Officers (CEOs) of the banks, to explain ??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 supply of such notes by the central bank.

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