President Muhammadu Buhari, the Central Bank of Nigeria (CBN), the CBN Governor and 27 commercial banks have been restrained from suspending, stopping, extending or interfering with the currency swap terminal date of February 10 or issuing any directive contrary to the said deadline.
This order was given on Monday by Justice Eneojo Eneche of the Federal Capital Territory (FCT) High Court in Abuja.
In a motion by five political parties, the court also granted an order directing the Chief Executive Officers (CEOs) of the 27 commercial banks to give reasons why they should not be arrested and prosecuted for financial sabotage of the country by illegally hoarding and failing to disburse the new N200, N500, and N1000 bank notes, despite the central bank’s supply of same.
The political parties include Acton Alliance (AA), Action Peoples Party (APP), Allied Peoples Movement (APM) and National Rescue Movement (NRM).
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The political parties argued that politicians with illicit funds call for the policies to be suspended.
In its ruling today, the court ordered the CBN, President Muhammadu Buhari and 27 commercial banks from suspending or interfering with the currency redesign terminal date of February 10, or issuing directive contrary to the said date.
In a recent press briefing, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, urged Nigerians to be patient, adding that the redesigned notes would circulate and be accessible.
“I understand the agitation, and I’m begging in God’s name; we are on our knees begging people to please show understanding. They should be calm”. Let’s just be calm and adopt a good queueing system; the assurance we give is that it will eventually go round.” Emefiele said.
