Lawyer sues CBN and requests an extension of the deadline for obsolete naira notes of 31 January
The CBN was urged to extend the deadline for old 1000, 500, and 200 naira notes until January 31 byMr. Alobo, a law professor.
Joshua Alobo, a lawyer, has filed a lawsuit against the Central Bank of Nigeria (CBN) about the deadline set for the usage of old notes to expire on January 31.
The CBN was urged to extend the deadline for old 1000, 500, and 200 naira notes until January 31 by Mr. Alobo, a law professor.
The lawsuit requested in particular that the court make an order "increasing the duration where the old notes cease to become legal tender to period of three weeks when the new notes will be suitably dispense by the commercial banks."
He named the Attorney-General of the Federation (AGF), the Central Bank of Nigeria (CBN), and its governor, Godwin Emefiele, as defendants.
In an affidavit submitted under oath by Musa Damudi, Mr. Alobo admitted that the central bank had announced the release of newly designed N200, N500, and N1,000 banknotes on October 26, 2022.
The complainant bemoaned the fact that the less fortunate Nigerians were yet to get the new naira notes, which President Muhammadu Buhari unveiled in November.