Old Money The Government Requests Supreme Court To Ignore Its Decision
Old Money The Government Requests Supreme Court To Ignore Its Decision
The Federal Government has asked the Supreme Court to dismiss the case challenging the February 10 deadline to stop using old currency.
The Central Bank of Nigeria (CBN), which changed the currency of the Naira, has set the date 31st January 2023 as the deadline to stop using old currency notes.
But he extended the deadline to February 10 after pressure from the government and the central bank.
Last week, CBN Governor Godwin Emefiele said the central bank will not extend the deadline.
However, the governors of the APC party met with President Buhari on the matter and he asked them to give him seven days to think about the matter.
But later the governments of Kaduna, Kogi, and Zamfara states went to court to challenge the CBN on the deadline to stop accepting the money.
In its ruling on Wednesday, the seven-judge panel led by Justice John Okoro suspended the activities of the federal government.
The Supreme Court ordered commercial banks and other financial institutions to continue accepting old currency notes until it decides on February 15.
In the first case, he filed on Wednesday through his lawyers Mahmud Magaji and Tijanni Gazali, the Attorney General of the Federal Government and Aminiya Shari'a, Abubakar Malami, said the Supreme Court has no jurisdiction to hear the case.
The teacher said that the plaintiffs did not explain the reason for taking the action against the defendants.
However, a few hours after the court decision, President Buhari, Emefiele, and Malami, held a secret meeting at Aso Rock Palace, on the issue of money exchange.