New naira: Supreme Court fixes March third for judgment

Written by on February 22, 2023

The Supreme Court today adjourned judgment in the new naira policy suit to March 3rd, 2023.

With the apex court’s decision, Nigerians, especially consumer, business groups as well as professional and trade unions looking up to the apex court for a favorable judgment (today) that they expect will ameliorate their suffering, will have to wait.

The Supreme Court had on February 8 restrained the Federal Government from implementing the February 10 deadline for swapping the old naira notes with new ones, but the Central Bank of Nigeria refused to shift the deadline.

Justice Oweibo further authorized EFCC to confiscate the sum of 400 million naira, also linked to the state and recovered from one Aminu Falala.

In addition, the judge directed the EFCC to publish the order within 14 days for any interested party to show why the forfeiture order should not be made permanent.

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