Kaduna State Governor Nasir El-Rufai has applauded the Supreme Court’s decision to extend the use of old naira notes beyond the Central Bank of Nigeria’s February 10 deadline.
WITHIN NIGERIA previously reported that a seven-member Supreme Court panel led by Justice John Okoro, in a unanimous ruling, restrained the Federal Government, Central Bank of Nigeria, and their agents and commercial banks from enforcing the February 10 deadline for the now-outdated 200, 500, and 1000 naira notes to cease being legal tender.
The Supreme Court also barred the Federal Government, the Central Bank of Nigeria, and commercial banks from meeting the deadline until the issue was resolved in a notice issued on February 15.
The governments of Kaduna, Kogi, and Zamfara states have filed a suit to prevent the CBN from enforcing the February 10 deadline for the phase-out of old naira notes.
Governor El-Rufai described the court ruling as a welcome development and a victory for the Nigerian people in a statement issued by his media aide, Muyiwa Adeleye, on Wednesday evening.
The governor also praised the Supreme Court justices for their decision and urged the federal government to view the ruling as an opportunity to alleviate Nigerians’ suffering.
El-Rufai stated that the governments of Kaduna, Kogi, and Zamfara states were forced to approach the Supreme Court in order to alleviate the unnecessary stress imposed on ordinary people and their livelihoods as a result of the ill-timed, incompetent planning and execution of an overnight cashless policy.
He contended that the CBN provided no emergency justification for what he called the wicked and callous decision to deny people access to their deposited funds.
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