CBN Gov, Emefiele Meets Buhari In Aso Rock After Supreme Court Order

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is reportedly in a closed-door meeting with President Muhammadu Buhari at Aso Rock in Abuja.

CityNews reports that the meeting is coming shortly after a Supreme Court ruling on Wednesday ordered that the old naira notes should remain in circulation beyond the February 10 deadline earlier announced.

The apex court gave the fresh order barely two days before the deadline for the naira swap announced by the CBN.

In a unanimous ruling, a seven-man panel of the Supreme Court led by Justice John Okoro, granted the interim injunction after an ex parte filed by Kogi, Kaduna and Zamfara state governments.

The highest court also held that the Federal Government and the apex must not continue with the deadline pending the determination of a notice on notice in respect of the issue on February 15.

Naira Swap: IMF Calls For Extension Of CBN’s February 10 Deadline

Meanwhile, the International Monetary Fund (IMF) has openly called for extending the February 10 deadline for the naira swap by the CBN.

CityNews reports that the International monetary body, in a statement in Abuja on Wednesday by Laraba Bonet, pleaded with the CBN and the federal government to consider the woes of Nigerians.

It is gathered that the plea from IMF came shortly after the Supreme Court restrained the federal government and CBN from enforcing the deadline, which is just days away.

As gathered by this platform, the International monetary body became the first foreign organization to plead for an extension in the deadline for depositing old Naira notes.

The body, in its statement, noted that “in light of hardships caused by disruptions to trade and payments due to the shortage of new banknotes available to the public, despite measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline should problems persist in the next few days leading up to the February 10, 2023 deadline.”