Lawyers and litigants can’t file processes; banks reject old notes from courts
By Jeph Ajobaju, Chief Copy Editor
Lagos courts are rejecting old naira notes and lawyers and litigants are not able to file processes as the N300 billion new notes the Central Bank of Nigeria (CBN) printed to replace N2 trillion old ones are not enough for 211 citizens to do business.
Officials at Lagos and Ikeja High Court registries reject old naira notes, saying banks no longer accept them as legal tender.
Account officers at both Lagos Island and Ikeja High Court registries demand payment in new naira notes by lawyers and litigants, recounting how attempts to pay old naira notes into the government accounts are denied by banks.
An Ikeja High Court registry official, who spoke on condition of anonymity because she was not authorised to speak on the matter, told The PUNCH their boss instructed them not to collect old notes.
She said the reason being that when they took old notes collected from court patrons to four banks – FCMB, Polaris, UBA, and Fidelity – they rejected them.
Henceforth, lawyers and litigants must come with only new naira notes, she stressed.
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Banks acting on CBN directive to reject old notes
A lawyer who also did not want his name in print confirmed the registry at Osborne Division of Lagos High Court rejected old naira notes and turned him back from filling his processes.
He lamented the order of the Supreme Court that the old notes should remain in circulation is being ignored, per The PUNCH.
“Non-acceptance of old notes would be a catastrophe for the nation,” the lawyer warned. “The highest court in the land, Supreme Court, order is being flouted with impunity.
“It is obvious that the CBN, especially the CBN Governor, Godwin Emefiele, is ready to impose a state of anarchy on Nigeria by directing banks against the order of the apex court.”
The Supreme Court on 8 February made an interim order restraining the CBN from enforcing its 10 deadline for the use of old naira notes.