Central Bank Governor, Godwin Emefiele, has run to the presidential villa to meet President Muhammadu Buhari after an order of the Supreme Court which ordered a halt in the implementation of the new naira policy.
This was few hours after the Supreme Court ruling which has thrown spanner in the works of the new policy. The new court order said the bank cannot stick to its February 10 deadline for the validity of three old naira notes.
A seven-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted the interim injunction after an ex parte filed by Kogi, Kaduna and Zamfara state governments.
The apex court also held that the Federal Government and the apex bank must not continue with the deadline pending the determination of a notice on notice on in respect of the issue on February 15.
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The country has been grounded almost to a halt as a result of the scarcity of both the new and old naira notes. Details later…..