Many business operators in the Federal Capital Territory (FCT), have started rejecting the old Naira notes in spite of Supreme Court order temporarily halting the ban on their use.
The News Agency of Nigeria (NAN) reports that following the redesigning of N200, N500 and N1000 notes by the Central Bank of Nigeria(CBN), Jan. 31 was announced as deadline for use of the old notes.
The Jan. 31 deadline was, however, met with outrage from Nigerians, forcing the apex bank to extend the deadline to Feb. 10 after which the notes would seize to be legal tender.
Meanwhile, Governors of Kaduna, Kogi and Zamfara approached the Supreme Court on Feb. 3, requesting that the extension should be beyond Feb. 10 as announced by the CBN.
Following the suit, a seven-member panel of the apex court, led by John Okoro gave the order suspending the Feb. 10 deadline till Feb. 15, when the suit would be determined.
Credit: NAN
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