A socio-political group, Social Rehabilitation Grace and Supportive Initiative (SRG) has dragged the Central Bank of Nigeria (CBN) to court, asking the court to compel the apex bank to extend the expiry date for the old naira notes by six months.
The SRG is convened by a Nigeria-born United States medical doctor, Dr. Marindoti Oludare.
In the suit filed before a Federal High Court, sitting in Akure, Ondo State, the applicants, Dr. Marindoti Oludare, the Social Rehabilitation Grace and Supportive Initiative (SRG), and Omoyele Ishola, are asking the court to extend the February 10, 2023 for the expiration of the old naira notes by six months.
The applicants are seeking, among others, an interim injunction restraining “the respondents and her privies, agents, or servants from enforcing the deadline date of 10th February 2023, wherein the old N200, N500, and N1000 currency notes cease to be legal tender, pending the hearing and determination of the motion on notice”.
The applicants also add that the court should give “an order compelling the respondent to extend the submission of old N200, N500 and N2000 currency notes, by a minimum of six moths before same are finally called in and cease to be a legal tender, pending the hearing and determination of the motion on notice”.
In tow, the applicants want an order of interim injunction restraining the respondent from setting a deadline for setting old N200, N500 and N1000 currency notes, saying such is alien to the provisions of the CBN Act 2007, pending hearing and determination of the motion on notice.
In the suit filed on its behalf by its counsel, L.E Ukpabi, the plaintiffs averred that the the scarcity of naira notes occasioned by the redesigning of N200, N500 and N1000 notes had brought untold hardship to the Nigerian public, as the notice for the swap was too short for comfort.
Meanwhile, no date has been fixed for hearing.