A Federal Capital Territory High Court in Wuse Zone 2 issued an order on Monday prohibiting President Muhammadu Buhari and the Central Bank of Nigeria (CBN) from prolonging or interfering with the February 10 deadline for the use of the old N200, N500, and N1000 banknotes.
The court granted the ruling in response to an ex parte application filed by four political parties.
Action Alliance, Action Peoples Party, Allied Peoples Movement, and National Rescue Movement are the political parties behind the lawsuit designated FCT/HC/CV/2234/2023.
In a ruling delivered by Justice Eleojo Enenche, the court stated: “An order of interim injunction is hereby made restraining the defendants, whether by themselves, staff agents, officers, interfacing banks or whosoever, from suspending, stopping, extending, varying, or interfering with the extant termination date of use of the old N200, N500, and N1000 bank notes, which is the tenth day of February 2023, pending the hearing and
“An order is hereby made directing the Heads and Chief Executive Officers, Managing Directors and/or alter egos of the 4th to 30th Defendants to forthwith show cause as to why they shall not be arrested and prosecuted for the economic and financial sabotage of the Federal Republic of Nigeria by their alleged act of hoarding, withholding, not paying or disbursing the new N200, N500 and N1000 bank notes, which are the legal tender of the Federal
The court ruled that the interim orders will be in effect for a period of seven days, and adjourned the hearing until February 14.
In addition to President Buhari, the Central Bank of Nigeria (CBN), and its Governor, Mr. Godwin Emefiele, 27 commercial banks were named as Respondents/Defendants in the case.