The supreme court has issued a temporary halt to the federal government’s plan to ban the use of older versions of 200, 500 and 1,000 naira notes from february 10, 2023.
The justice john okoro, led seven-member panel, granted the application in the interest of justice and the well-being of nigeria.
The interim injunction restrains the federal government, through the central bank of nigeria or commercial banks, from ending the use of the older naira notes until the hearing and determination of the motion on notice for appeal injunction.
He accordingly adjourned to february 15, 2023 for hearing of the main suit.
The ruling came after an exparte application was brought forward by the northern states of kaduna, kogi, and zamfara.