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  The presidential candidate of the Action Democratic Party (ADP),   Yabagi Sani , has said the introduction of the new naira notes by the Central Bank of Nigeria (CBN) was meant to disrupt the forthcoming general elections. Naija News   reports that Nigerians have continued to experience a nationwide scarcity of the naira following the introduction of the redesigned N200, N500, and N1,000 notes. Speaking during an interview on Channels Television’s The 2023 Verdict, Sani said the new naira design policy was introduced so that forthcoming elections will not take place. The ADP flagbearer asserted that only enemies of the country will introduce the naira redesign weeks before the elections. He added that the policy was the machinations of those against the country’s democratic structure. He said: “ It is only the enemies of the state that will introduce this kind of thing so that elections will not take place or when it takes place, it takes place under a situation that yo...

A federal capital territory (FCT) high court has  compelled the  Central Bank of Nigeria  (CBN) to go ahead with the full implementation of the naira redesign policy. Delivering a ruling on Monday in a suit marked FCT/HC/CV/2234/2023, the court restrained the CBN from extending the deadline on the use of old naira notes. The CBN, President  Muhammadu Buhari , and several banks were included as defendants in the suit. Eleojo Enenche, the judge of the FCT high court, ordered the CBN not to extend the deadline pending the determination of the suit. “An order of interim injunction is hereby made restraining the defendants whether by themselves, staff, agents, officers, interfacing banks or whosoever not to suspend, stop, extend, vary or interfere with the extant termination date of use of the old N200, N500, and N1000 bank note being 10th day of February, 2023, pending the hearing and determination of motion on notice,” the court held. The judge also made an order of int...