A Federal Capital Territory – FCT, court, has prevented the Central Bank of Nigeria – CBN, President Muhammadu Buhari and 27 commercial banks from suspending or interfering with the currency redesign terminal date of February 10, or issue any directive contrary to the said date.
In response to a motion by five political parties, Justice Eneojo Eneche of the Federal Capital Territory, Abuja also asked 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.
Buhari, last year, approved the redesign of the banknotes.
In the wake of the naira swap crisis, the CBN maintained it would not extend the deadline.