Court Stops Buhari, CBN from interfering with cash policy
Salihu Ali, Abuja
Recall that the CBN in late 2022, announced a new cash policy, which saw the redesign of the 200, 500, and 1000 Naira notes denomination.
It placed a deadline of January 31 for the old notes to cease to serve as legal tender.
However, there has been a resultant cash scarcity, which has brought about long queues at banks, and people have now resorted to buying the new naira from hoarders.
As a result, the President, Muhammadu Buhari, extended the deadline from January 31 to February 10.