₦airaland Forum

For those celebrating carelessly, the judgement is not what you think

The Supreme Court on Wednesday suspended the February 10 deadline for the swap of old naira notes with new ones given by the Central Bank of Nigeria.

The CBN had moved the deadline earlier set for the expiration of the legal tender status of the old notes from January 31 to February 10 after the CBN governor, Godwin Emefiele, met with the President, Major General Muhammadu Buhari (retd.).

Nigerians have been groaning under the pain caused by the deadline as they are unable to get the new notes, while the old notes are being sold to them by Point of Sales vendors.

Pockets of protests had broken out in some states including Delta, Ekiti, Ogun, Oyo and Ondo, with officials of banks being attacked by protesters and bank properties destroyed.

Moreover, the naira redesign policy has caused some wrangling within the ruling All Progressives Congress with some chieftains of the party alleging that the policy is targeted at reducing the winning chances of the APC presidential candidate, Bola Tinubu, at the February 25 poll.

Tinubu also had made some comments in some of his campaign rallies which were believed to be directed at Buhari and some unnamed persons in the Presidency, a notion that the APC PCC spokesperson, Bayo Onanuga, had continued to dismiss.

Not favourably disposed to the naira redesign policy, the Governor of Kaduna State, Nasir El-Rufai, granted an interview to Arise TV where he said some “elements” in Aso Rock working against the ambition of Tinubu were behind the naira and fuel crises in the country. He also alleged that Buhari was “deceived” by the CBN to give a nod to the controversial naira redesign policy.

Below are three things to know about the Wednesday Supreme Court ruling over the matter:

1. Some APC governors initiated the suit
El-Rufai and two other APC governors —Yahaya Bello of Kogi State and Bello Matawalle of Zamfara State — dragged the CBN and the Federal Government to the Supreme Court, seeking a halt to the full implementation of the naira redesign policy initiated by the apex bank.

2. It is a temporary halt, a suspension
The Supreme Court ruling on Wednesday temporarily halted the move by the Federal Government through the CBN to ban the use of the old naira notes from February 10, 2023.

It is noteworthy that the ruling is an “interim injunction” — not a complete stop to the naira redesign policy — pending the hearing and determination of the case filed by the APC governors.

Justice Okoro of the Supreme Court held that, “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 now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for an interlocutory injunction.”

3. February 15 hearing
It is not certain yet what will happen after the hearing of the case on February 15.

While Nigerians can heave a sigh of relief that the February 10 deadline has now been suspended, and that they have some more time to deposit their old naira notes and/or swap with the redesigned ones, the outcome of the February 15 hearing at the Supreme Court will determine for how long the relief will last.

https://www.google.com/amp/s/punchng.com/new-naira-things-to-know-about-supreme-court-judgement/%3famp

I laugh in swahili

Good to know

3 things OP needs to knw
1- Nigerians are suffering
2- Nigerians are dying
3- Nigerians will vote on 25th

Rubbish

Supported

Very soon Supreme Court will start telling the Pilots how to fly the Airplanes since they have the final say. Use.less Political Justices
Their evil judgement given to Lawan is still a pain on the conscience of the Nation

Mod don highjack my thread
Expect press release from CBN and the presidency later today. No hope for vote buyers

Go to ATM GALLERIES ZENITH/ GTB/ FIRST BANK/ ACCESS/UBA AT bank road at NNEWI AND TELL YOUR NDI ANAMBRA ALL YOU WROTE.

Sincerely ask yourself, if this is the first time , Nigeria will be re -designing her currency ?

Why the uproar now? if not for LP/ PDP political gain
They have been on the queue since 7am.

Go to Agulu, where the only bank there UBA, Obi himself will need to drive close to 14mints before he can get to only UBA close to him

Issorice

Hmmm

We don't want Emefiele Naira swap
What I went tru before buying fuel is enough , I was debited twice but no reversal.
I can't make any transfer nor withdraw my money.
We are very heartless in this country , you will impose on Nigerians not minding the effect on them.

Whether 10th or 15th, the naira swap is already watery. Thanks to Tinubu for standing firm.

Mad country!

Vote for a sane candidate!

Vote Obi!

Hmmm

Is ok

Las las na Buhari get the final say.

Abi no be 9ja wen we dey

Okay

Afamed:
Go to bank road at NNEWI AND TELL YOUR NDI ANAMBRA ALL YOU WROTE

Unstable much? What brought ethnic bigotry into this

Toxicity at it's peak

Issokay

I was disappointed though... I prefer the deadline still stands And let's get done with the whole drama. Postponing the deadline will embolden the currency racketeers to hoard it further or sell them to The highest bidders (politicians)....

February 15 self too close

Ogbuefi2020:
For those celebrating carelessly, the judgement is not what you think



https://www.google.com/amp/s/punchng.com/new-naira-things-to-know-about-supreme-court-judgement/%3famp

Jagaban winning again

The failure has fail again…. Emefele abi waiting you called him

Okay

This Naira redesign policy, though good, is highly politically motivated and as currently being implemented, its only the masses that will suffer. This will highly heat up the polity and national security will be threatened. No fuel, no money and you think people will be happy? ...a calculated recipe for anarchy, I think!

Bullion van judgement is a victory to wayward urchins..

While Nigerians can heave a sigh of relief that the February 10 deadline has now been suspended, and that they have some more time to deposit their old naira notes and/or swap with the redesigned ones, the outcome of the February 15 hearing at the Supreme Court will determine for how long the relief will last.

A good for the Masses.
Good one for the sane, honest and hardworking Nigerians.
Shame to the evil and senseless terrorists and criminals supporters that want to put our country in chaos.

GOD BLESS NIGERIA

How it is wished Buhari disobey this supreme court judgement as he has been doing yet the current fools antagonising were cheering him on.

Obi for president..