New Naira: Gov Badaru Hails Supreme Court Judgement, Says Nigeria’s Economic Activities Almost Collapsed
By Our Correspondent
Governor Muhammad Badaru Abubakar of Jigawa State has described the Supreme Court judgment restraining the Federal Government from implementing the February 10 Deadline of the old naira notes to stop being legal tender as a welcome development.
Speaking in an exclusive interview with Hausa Service of the Voice of America (VOA), Governor Badaru said, the economic activities in the country was almost in a state of collapse as a result of the situation.
In a signed statement by the Special Adviser, Media and Public Relations, Habibu Nuhu Kila, issued on Thursday and made available to News Point Nigeria, Thursday, the governor stated that with the judgment of the apex court people can now transact their normal business with both old and new naira notes.
He then called on the Central Bank of Nigeria (CBN) to as a matter of urgency make the new naira notes available to the public in order to alleviate the current hardship in the country.
News Point Nigeria reported that, the Supreme Court of Nigeria has restrained the Federal Government from implementing the February 10 Deadline of the old 200, 500 and 1000 naira notes to stop being legal tender.
Three Northern States, Kaduna, Kogi and Zamfara, had in a motion ex-parte filed on February 3rd, prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy.
A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The Court further held that the FG, CBN, commercial banks must not continue with the deadline pending the determination of a notice in respect of the issue on February 15.