Old naira deadline: Buhari meets Emefiele, Malami after Supreme Court ruling

President Muhammmadu Buhari Wednesday met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and Attorney General of the Federation and Minister of Justice, Abubakar Malami, at the Presidential Villa, Abuja. The meeting held few hours after the Supreme Court restrained the Federal Government from enforcing the deadline of old naira notes. […]

President Muhammmadu Buhari Wednesday met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and Attorney General of the Federation and Minister of Justice, Abubakar Malami, at the Presidential Villa, Abuja.

The meeting held few hours after the Supreme Court restrained the Federal Government from enforcing the deadline of old naira notes.

The CBN, which redesigned the naira, had fixed January 31 as the deadline of the old notes to be legal tender.

But the deadline was extended to February 10 after intense pressure on the government and the apex bank.

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Last week, Emefiele said the apex bank was not considering extending the deadline.

The All Progressives Congress (APC) Governors had met with President Buhari over the issue and the president asked them to give him seven days to look into it.

But the governments of Kaduna, Kogi, and Zamfara states headed for the court to challenge the CBN.

In its ruling on Wednesday, a seven-member panel led by Justice John Okoro halted the Federal Government’s move.

The apex court ordered commercial banks and other financial institutions to continue transacting with the old notes pending the determination of the motion at the apex court on February 15.