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Group urges CBN to stay action on promissory notes

By Segun Olaniyi, Abuja
28 December 2020   |   4:04 am
Patriots for the Advancement of Peace and Social Development (PAPS), has urged the Central Bank of Nigeria (CBN) to obey an Abuja Federal High Court order that restrained it from processing...

Patriots for the Advancement of Peace and Social Development (PAPS), has urged the Central Bank of Nigeria (CBN) to obey an Abuja Federal High Court order that restrained it from processing the N14.9 billion promissory notes belonging to Zamfara State in favour of United Bank for Africa (UBA).

Zamfara government, through its counsel, Ahmed Raji, has also written to the CBN to exercise administrative prerogative by halting the redemption of the said promissory note.

Zamfara had approved the cancellation of N37.4 billion promissory notes allegedly sold by former Governor Abdulazeez Yari on the grounds that due process was not followed.

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