Some residents of Kogi State on Wednesday trooped out en masse to celebrate the Supreme Court ruling restraining the Federal Government from implementing the February 10 Deadline for the old 200, 500 and 1000 naira notes to stop being legal tenders.
Recall that three northern All Progressives Congress (APC) states — Kaduna, Kogi and Zamfara — had in a motion ex-parte filed on February 3rd, by their lawyer, AbdulHakeem Mustapha (SAN), prayed the apex court to halt the Central Bank of Nigeria (CBN) naira redesign policy.
A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc from implementing the February 10, deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.
The court further held that the FG, CBN, commercial banks must not continue with the deadline pending the determination of a notice in respect of the issue on February 15.
By this ruling, the old Naira notes continue to be legal tenders in Nigeria.
To celebrate the court ruling, residents in their numbers holding brooms (the APC insignia) trooped singing and dancing.
See video below:
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