The Supreme Court of Nigeria has resumed hearing today in against the new naira note policy of the Central Bank of Nigeria (CBN).
The News Chronicle understands that expectations are high on the outcome of the suit. It would be recalled that the three states Kogi, Zamfara and Kaduna State had instituted a legal suit against the deadline set on old naira notes.
The apex court also granted an ex-parte injunction, barring the Central Bank from implementing the deadline placed on the submission of old naira notes of N200 ,N500 and N1000.
At the hearing which is currently ongoing in Abuja, Abia State has also showcased its intention to join the suit the apex court, however, refused to grant the request on the ground that it came late with its originating summons.
At the last hearing on February 15, seven states joined the three initial states as co-plaintiffs, while Edo and Bayelsa states joined the Federal Government as co-defendants.
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