• Business
  • Updated: March 29, 2023

Emefiele: CBN Governor Dragged To Court Over Naira Redesign

 Emefiele: CBN Governor Dragged To Court Over Naira Redesign

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been dragged to court by a Lagos-based lawyer, Barrister Tope Alabi.

Per online reports, Alabi approached the Federal High Court in Lagos State to initiate proceedings against Emefiele for what he calls disobeying the Supreme Court orders on its naira redesign policy.

It was gathered that the application was filed on March 27 through an ex parte motion in the suit with the CBN governor listed as the sole respondent.

Alabi who described the apex bank's cashless policy as a “cash confiscation policy” noted that the cash crunch has negatively impacted the day-to-day running of his office.

The aggrieved lawyer also disclosed that his staff could not make it to work daily due to the non-availability of cash.

Speaking further, Alabi said commercial drivers do not possess Point of Sale (POS) devices to collect fares and this has led to his staff's inability to come to the office.

In the 28-page affidavit, the lawyer claimed that the Supreme Court had on March 10 2023, in Suit No. SC. 162/2023, “asked Emefiele to make available and allow the old N200, N500 and N1000 notes to co-exist as legal tender with the new N200, N500 and N1000 notes till December 2023.”

“The respondent has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date”, he added.

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