Naira Swap Policy: Supreme Court Adjourns Case Against CBN Till Feb 22

The hearing in a lawsuit filed by the states of Kaduna, Kogi, and Zamfara against the federal government seeking a restraining order to prevent the full implementation of the Central Bank of Nigeria’s naira redesign program has been postponed till February 22 by the Supreme Court (CBN).

Due to demand from Nigerians, the CBN extended the deadline for the use of old notes, which was initially set for January 31. To prevent the CBN from enforcing the deadline, Kogi, Kaduna, and Zamfara States petitioned the Supreme Court prior to the February 10 deadline.

On February 15, the court’s hearing on the matter commenced.