Home2023 Elections#JUST IN: Heavy Protest Rocks CBN Headquarters Over Supreme Court Ruling On...

#JUST IN: Heavy Protest Rocks CBN Headquarters Over Supreme Court Ruling On Naira Swap (Video)

The Civil Society Central Coordinating Council (CSCCC) has on Wednesday, February 8, 2023, stormed the headquarters of the Central Bank of Nigeria (CBN), Abuja, to protest against the ruling of the supreme court on the deadline for use of old naira notes, headlinenews.news report.

The national coordinator of CSCCC, Obed Okwukwe, while speaking on Wednesday, urged Buhari to issue an executive order maintaining February 10 as the deadline for use of old naira notes.

Okwukwe added that the apex court order did not restrain the exercise of the constitutional powers of the President.

He also called on the supreme court not to yield its platform for election riggers to have access to illicit cash to compromise the forthcoming elections.

Recall that the supreme court, on Wednesday, halted the move by the federal government to ban the use of the old naira notes from February 10, 2023.

A seven-member panel led by Justice John Okoro, stopped the move in a ruling in an ex-parte application brought by three states including Kaduna, Kogi and Zamfara.

The three states specifically applied for an order of interim injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the older version of the N200, N500 and N1,000 may no longer be legal tender, pending the hearing and determination of their motion on notice for interlocutory injunction.”

Counsel to the applicants, A.I. Mustapha (SAN), while moving the application on Wednesday, urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.

He stated that the policy of the federal government had led to an “excruciating situation that is almost leading to anarchy in the land.”

Justice Okoro, while delivering ruling in the motion, granted the application after a careful consideration of the motion.

Also, he adjourned the case till February 15, 2023, for hearing of the main suit.



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