- Promises to take stance after S’Court ruling
The Presidency has dismissed as false the assertion that the Federal government or the Central Bank of Nigeria (CBN) had refused to recognise old the N200, N500 and N1,000 notes as legal tender despite a Supreme Court ruling.
Kaduna, Kogi and Zamfara states had approached the Supreme Court of Nigeria for reliefs on behalf of their citizens to challenge the February 10, CBN deadline for old naira notes to cease to be legal tender.
The Supreme Court, in its ruling on February 8, directed all parties to maintain the status quo prior to February 10, 2023 deadline pending the determination of the case, which was adjourned to February 15 (today), 2023.
However, financial institutions including banks as well as filing stations, supermarkets and other business owners have continued to reject the old Naira notes despite the Supreme Court ruling.
Some banks were reported to have justified their decision to reject the old notes on a circulation from the CBN.
Governor of the CBN, Godwin Emefiele, was also quoted at a meeting with diplomats in Abuja on Tuesday as saying that the old notes ceased to be legal tender from February 10, 2023.
The President’s spokesman, Mallam Garba Shehu, late Tuesday night however said in a statement:
“We wish to state that it is not true that the Federal government or the Central Bank of Nigeria (CBN) have taken a preemptive action on the legality of currency as a legal tender in view of the pendency of the case before the Supreme Court.
“The position of the government and the CBN will be made known upon the determination of the suit coming up tomorrow (today).”