Join our Telegram group and receive breaking and trending news updates directly on your phone.
Join for News Updates â
The Supreme Court on Wednesday temporarily halted the move by the federal government to ban the use of the old naira notes from February 10, 2023.
A seven-member panel led by Justice John Okoro, halted the move of the federal government in a ruling in an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.
The three states had specifically applied for an order of Interim Injunction restraining âthe 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 interlocutory injunctionâ.
Moving the application on Wednesday, counsel to the applicants, Mr A. I. Mustapha, SAN, had urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.
He stated that the policy of the government had led to an âexcruciating situation that is almost leading to anarchy in the land â.
While he referred to a Central Bank of Nigeriaâs (CBN) statistics which put the number of people who donât have bank accounts at over 60 percent, Mustapha lamented that the few Nigerians with bank accounts canât even access their monies from the bank as a result of the policy.
The senior lawyer further argued that unless the Supreme Court intervenes the situation will lead to anarchy because most banks are already closing operations.
Delivering ruling in the motion, Justice Okoro, held that after a careful consideration of the motion exparte this application is granted as prayed, âAn 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 interlocutory injunctionâ.
He accordingly adjourned to February 15, 2023 for hearing of the main suit.
Strategic Media Partnership for Growth and Reputation: Introducing The Reporters
The Reporters is a dynamic online news publication committed to delivering credible, timely, and impactful journalism across Nigeria and beyond. With a strong foundation in professional reporting and editorial integrity, the platform focuses on social, economic, political, and human development issues that shape public discourse. Backed by decades of journalistic experience, The Reporters offers a trusted voice that informs, educates, entertains, and influences a diverse and engaged audience.
For members of the business community, The Reporters provides a strategic platform to enhance visibility, build brand credibility, and connect with target markets. Through well-crafted news, features, interviews, sponsored content, and digital amplification, businesses can showcase their products, services, and innovations to a wider audience. This engagement not only drives patronage but also positions organisations as key contributors to economic growth and development.
Political actors and aspirants also stand to benefit significantly from partnering with The Reporters. As the 2027 elections approach, the platform offers an opportunity for politicians to effectively communicate their vision, programmes, and track records to the electorate. Through balanced profiling, issue-based coverage, and reputation management content, The Reporters helps shape public perception and strengthens candidatesâ connection with voters.
Beyond visibility, The Reporters plays a crucial role in image laundering and perception management, presenting clients in a favourable, credible, and issue-driven light while maintaining ethical standards. By highlighting achievements, clarifying controversies, and projecting leadership qualities, the platform supports politicians in building trust and acceptance among constituents, which are critical assets in any electoral contest.
Engaging with The Reporters is therefore not just about publicity, it is about strategic communication for mutual benefit. Partners gain access to a credible media channel with the wide reach of The Reporters while it continues to fulfill its mandate of promoting development-oriented narratives. We invite stakeholders in both business and political spheres to collaborate with us in shaping informed opinions, driving growth, and advancing democratic engagement.
Prospective clients can reach us via WhatsApp: 08032901058 or email: ahmeddada008@gmail.com.
- Management
