A High Court in the Federal Capital Territory (FCT) has directed the Central Bank of Nigeria (CBN), President Muhammadu Buhari and 27 commercial banks not to extend the deadline for the collection of old naira notes beyond February 10, or issue any directive contrary to the said date.
In a motion by five political parties, Justice Eneojo Eneche also directing the Chief Executive Officers (CEOs) of the banks, to show cause why they should not be arrested and prosecuted for the financial sabotage of the country, by illegally hoarding and not disbursing the new N200, N500, and N1000 bank notes, despite supply of such notes by the central bank.
In the 27 grounds by the applicants they made out a case showing that politicians who ostensibly were in possession of illicit funds were the ones who wanted the policies suspended.
