Court stops CBN, Buhari from suspending cash limit policy

A FEDERAL Capital Territory (FCT) High Court presided by Justice Eneojo Eneche has stopped the Central Bank of Nigeria (CBN), President Muhammadu Buhari and 27 commercial banks from suspending or meddling with the currency redesign terminal date of February 10.

The court also barred them from issuing any directive contrary to the said date.


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    The court was responding to a motion by some political parties, which include Action Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM) and National Rescue Movement (NRM), to bar the CBN, Buhari and others from extending or stopping the new naira redesign policy.

    The ICIR reported that three All Progressives Congress (APC) governors had earlier dragged the Federal Government before the Supreme Court on Monday, February 6, in a bid to halt the full implementation of the naira redesign policy introduced by the CBN.

    The governors of Kaduna, Nasir El Rufai; Kogi, Yahaya Bello; and Zamfara, Bello Matawalle, who filed the suit, expressed concern about the impact of the CBN policy on citizens of their states.

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