New naira: C'River, Uyo, Ebonyi, others comply with CBN deadline - Breaking News in Nigeria today 247 | TheWatchNGR

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Friday, February 10, 2023

New naira: C'River, Uyo, Ebonyi, others comply with CBN deadline

 

New naira: C'River, Uyo, Ebonyi, others comply with CBN deadline



Eric Patrick


Today, the 10th day of February is the date the Central Bank Of Nigeria announced to stop the legal tender of the old naira notes in the country.


Some states across the Federation have stopped spending accepting the old notes amid the CBN deadline. 


According to reports, citizens who have been in possession of the new naira notes were selling it at the rate of 1000 for 5000 naira. 


However, The Supreme Court on Wednesday temporarily halted the move by the federal government to ban the use of the old naira notes from February 10, 2023.


The Supreme Court had ruled that the deadline should be suspended pending the determination of the case brought before it by the governors of Kaduna, Kogi and Zamfara States.


The Central bank of Nigeria is yet to respond to the Supreme court on halting the move by the federal government to ban the use of old naira notes.



Nigerians have stormed the official Twitter account of the central bank of Nigeria, @cenbank, calling on Emefiele to address the deadline issues.


The ban on the old naira has triggered frustration in the country as many commercial banks have refused to pay their customers with the new notes.


The President, Major-General Muhammadu Buhari, (retd.) had on Friday last week, asked Nigerians to give him seven days to resolve the naira crisis.


For weeks, Nigerians have queued at empty automated teller machines and banking halls have been filled with customers barely able to get the amount of cash that they need.


The court has fixed February 15 to entertain the case. However, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, in a response to the suit later on Wednesday, among other things, said the Supreme Court lacked jurisdiction on the matter.




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