BREAKING: Supreme Court Stops CBN from enforcing old naira deadline

The Supreme Court on Wednesday issued an order of interim injunction restraining the Federal Government from enforcing the February 10 deadline for the phasing out of the old naira notes.

A five-member panel of the court, led by Justice John Okoro held that it was a matter of urgent national importance that the court intervenes and grant the order.

The ruling was on an ex-parte motion filed by the governments of Kaduna, Kogi and Zamfara states.

The order, according to Justice Okoro, who read the lead ruling, is to subsist pending the hearing and determination of the motion on notice filed by the state for interlocutory injunctions.

The court adjourned till February 15 for the hearing of the motion on notice and the preliminary objection filed by the defendant - the Attorney General of the Federation (AGF), challenging the court's jurisdiction over the case.