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Wednesday, May 29, 2024

Naira Scarcity: Buhari, Emefiele meet at Aso Rock Villa

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The President, Major General Muhammadu Buhari (retd.), on Wednesday, met with the Governor of the Central Bank of Nigeria, Godwin Emefiele, at the State House, Abuja.

The meeting, which happened shortly after this week’s Federal Executive Council meeting, comes hours after the Supreme Court restrained the Federal Government from implementing the February 10 deadline for the old 200, 500 and 1000 naira notes to cease being legal tenders.

On Monday, the governments of Kaduna, Kogi and Zamfara states had in a motion ex parte filed by their lawyer, AbdulHakeem Mustapha, prayed the Supreme Court to stop the CBN’s naira redesign policy.

READ ALSO: New Naira Notes: ICPC Discovers Over N250m Stashed In The Vault Of Sterling Bank Abuja

A seven-person panel of the Supreme Court led by Justice John Okoro unanimously granted an interim injunction restraining the FG, CBN and deposit banks from implementing the February 10, deadline pending the determination of a notice in respect of the issue on February 15.

READ ALSO: Banks In Kogi Shut Down Over Inability To Dispense New Naira

Emefiele did not speak with journalists after the meeting.

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Photo Credit: Getty

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