The Federal High Court sitting in Lagos has dismissed a suit challenging the use of Arabic inscriptions on Naira notes.

Justices YELLIN BOGORO held that the Banks and Other Financial Institutions Act empowers the Central Bank of Nigeria (CBN) to print, design and issue the currency.

The court also held that the suit brought by a Lagos-based lawyer, MALCOM OMIRHOBO, challenging the Arabic inscriptions on Naira notes failed to establish that the CBN’s powers were exercised in bad faith.

In his reaction to the judgment, OMIRHOBO said he had applied for a Certified True Copy of the judgement and would study it to decide his next line of action.