Despite the Supreme Court’s ruling, banks, filing stations, supermarkets and other business owners have continued to reject the old naira notes.
By Jeffrey Agbo
The Presidency on Tuesday said the reports that it disobeyed the ruling of the Supreme Court on the legality of the old N200, N500 and N1,000 notes are false.
In a ruling on February 8, the apex court directed all parties to maintain the status quo. It quashed the February 10, 2023 deadline for the old naira notes till the determination of the case which was adjourned to February 15, 2023.
The case was brought before the court by Zamfara, Kaduna and Kogi states. Other states have since joined in the suit.
Despite the Supreme Court’s ruling, financial institutions including banks as well as filing stations, supermarkets and other business owners have continued to reject the old naira notes.
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The Governor of the CBN was also quoted at a meeting with diplomats in Abuja on Tuesday as saying that the old notes were no longer legal tender from February 10, 2023.
In a statement on Tuesday night, President Muhammadu Buhari’s spokesman, Garba Shehu, said: ”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 (Wednesday).”
