The Harbingerngr News

*As Kogi, Kaduna, Zamfara drag FG to Supreme Court; *Group goes to court, seeks expiry date extension; *14 political parties threaten withdrawal from 2023 polls  A High Court of the Federal Capital Territory at Wuse Zone 2, has issued an order restraining President Muhammadu Buhari and the Central Bank of Nigeria, CBN, from extending or interfering with the February 10 deadline for the use of the old N200, N500 and N1,000 banknotes. This came on a day the governments of Kogi, Kaduna and Zamfara states dragged the Federal Government before the Supreme Court. But efforts to get the reaction of the Presidency last night proved futile, as the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, referred Vanguard to the Minister of Justice and Attorney-General of the Federation, Abubakar Malami, SAN, who failed to pick calls and respond to text message sent to his mobile phone. The court issued the order, following an ex-parte marked FCT/HC/CV/2234/2023, are  ...

•Currency supply from CBN insufficient — Banks •Dispenses mixture of old and new notes •Banks may be hoarding but we will fight them — CBN •Dispatches officials to monitor banks’ ATMs •The deadline should be extended — Customers WITH five weeks gone into the period of transition from old to new Naira notes and just barely one week to the deadline for acceptance of the old notes as legal tender, the Central Bank of Nigeria, CBN, and the commercial banks appear to be at logger heads over the circulation of the new notes. Financial Vanguard, in a working visits to several branches of commercial banks in Lagos and Abuja last weekend discovered that the banks were struggling to comply with a CBN directive mandating them to stop dispensing old notes and ensure that all their Automatic Teller Machines, ATMs, are adequately loaded with the new notes. They told Financial Vanguard that they do not have enough cash in the new notes to comply with the directive, adding that in the interim, they ha...