- The naira scarcity has put many Nigerians in a tight corner and the policy maker, the CBN, has been keeping mutes on the legality of the old naira notes
- Some Nigerian traders have started rejecting the old notes despite the supreme court injunction that has restricted the federal government from further implementation of the policy till February 15
- The supreme court injunction has created controversy between those that want the deadline to be extended and those that want the CBN to continue with the policy
Nigerians are yet to know the way forward on the deadline for the old naira notes, though the supreme court has ordered the federal government to hold on until the matter is heard on February 15.
Kaduna, Kogi and Zamfara filed an ex-parte motion before the court on February 3 asking the apex court to stop the federal government and the Central Bank of Nigeria (CBN) naira redesign policy that will stop the use of N200, N500 and N1000 naira notes.
