The High Court on Wednesday briefly stopped the move by the Central Government to boycott the utilization of the old naira notes from February 10, 2023.
A seven-part board drove by Equity John Okoro stopped the central government plan in a decision in an exparte application brought by three northern provinces of Kaduna, Kogi and Zamfara.
The PUNCH reports that the February 10 cutoff time for the cash trade declared by the National Bank of Nigeria pitted Lead representatives Nasir El-Rufai of Kaduna, Yahaya Bello (Kogi) and Bello Matawalle (Zamfara) against 14 ideological groups which took steps to blacklist the February 25 political race, should the CBN expand as far as possible.
This is as a High Court of the Government Capital Domain limited the President, Significant General Muhammadu Buhari (retd.), CBN, its Lead representative Godwin Emefiele and 27 business banks from suspending, halting, expanding or disrupting the cash trade deadline.
The request was given over on Monday by Equity E. Enenche following an application by four ideological groups.
All things considered, the three lead representatives, who hauled the CBN and the National Government to the High Court, were looking for an end to the full execution of the naira update strategy started by the pinnacle bank.
Be that as it may, moving the application on Wednesday, direction to the candidates, Mr A. I. Mustapha, SAN, asked the court to concede the application in light of a legitimate concern for equity and Nigerians.
He contended that the arrangement had prompted an “unbearable circumstance that is practically prompting political agitation in the land”.
After cautious thought of the movement exparte in the application, Equity Okoro allowed the request.
Administering on the movement, Equity Okoro held that “A request for Break Directive controlling the national government through the National Bank of Nigeria (CBN) or the business banks from suspending or deciding or finishing on February 10, 2023, the time span with which the now more seasoned variant of the 200, 500 and 1,000 category of the naira may as of now not be legitimate delicate forthcoming the meeting and assurance of their movement on notice for an interlocutory order”.
He, nonetheless, concluded to February 15, 2023, for a knowing about the principal suit.