The Supreme Court of Nigeria has restrained the Federal Government from enforcing the February 10 deadline for the old notes to be legal tender.
But the deadline was extended to February 10 after intense pressure on the Federal Government and the bank.
Governor of the CBN, Godwin Emefiele had stated that the bank was not considering extending the deadline.
But the governments of Kaduna, Kogi, and Zamfara states headed for the court to challenge the CBN.
In its Justice John Okoro on Wednesday, leading a seven-member panel halted the Federal Government’s move.
The court ordered commercial banks and others financial institutions to continue transacting with the old notes pending the determination of the motion at the apex court on February 15.
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