Stephen Ukandu, Umuahia
A Federal High Court sitting in Abuja, Monday, restrained the Central Bank of Nigeria, the Federal Government and 27 listed commercial banks from “suspending, stopping, extending or interfering with the currency re-designation terminal date of February 10 or issuing any directive contrary to the date.”
The Court presided over by Justice Eleoje Enenche, also restrained President Muhammadu Buhari and the CBN Governor, Godwin Emefiele, from doing same.
The judgment followed a motion ex parte filed by five of the 18 political parties.
Granted also by the court was an order directing the CEO’s of the banks and their alter egos to show cause why they should not be arrested and prosecuted for the economic and financial sabotage of the country by their hoarding, withholding, not paying or disbursing the new N200, N500 and N1000 bank notes despite supply of such notes by the CBN.
According to the order CEOs and their staff who have been alleged to be hoarding the new bank notes or trading with them thereby causing untold hardship to ordinary citizens, will be severely sanctioned.
The applicants in their motion, claimed that politicians who were in possession of illicit funds were the ones opposing the Naira redesigning policy aimed at curbing vote buying.
