CBN has requested the court to halt its plan to phase out outdated naira notes
Sunusi Umar Sadiq, a Kano-based attorney, has requested that the Federal High Court in Kano prevent the Central Bank of Nigeria (CBN) and its Governor Godwin Emefiele from declaring the old N200, N500, and N1,000 notes to be no longer legal money by January 31, 2023
In his ex-parte application, the attorney prayed for the case in the FHC/KN/CS/19/2023 lawsuit, which was filed on January 25, 2023
The CBN and Emefiele are the first and second respondents in the lawsuit, whereas Sadiq is the only applicant.
He requested the court to halt the respondents while his January 25 Originating Motion was heard and decided.
“An order of interim injunction restraining the Respondents, pending the hearing and determination of the Originating Motion dated 25th January 2023, from making the existing N200, N500, and N1,000 currency notes cease to be the legal tender in Nigeria by 31st January 2023, which currency notes are the ones that are largely in circulation now, are the ones issued by the various commercial banks in the country, and are the ones dispensed by the various Au (ATMs)