What you should know: The Federal Capital Territory (FCT) High Court had earlier barred the Central Bank of Nigeria (CBN) and President Muhammadu Buhari and 27 commercial banks from suspending or interfering with the currency redesign terminal date of February 10 or issuing any directive contrary to the said date.

13 political parties out of the 18 political parties in Nigeria have threatened to withdraw from participating in the February 25 and March 11, 2023, general elections, if the Central Bank of Nigeria (CBN) extends the February 10 deadline for the naira swap.

Kaduna, Zamfara, and Kogi States dragged the Federal Government to Supreme Court over the scarcity of old and new Naira notes due to the Central Bank of Nigeria (CBN)’s naira redesign policy.

The state governments who said they are worried by the effects the CBN naira redesign policy is having on the residents of their states, are seeking a restraining order by the Supreme Court to compel the government and CBN from implementing the policy.

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