BREAKING: Presidency denies disobeying Supreme Court order regardless of Emefiele’s insistence on February 10 deadline

Regardless of the Central Bank’s Tuesday declaration that the outdated naira ceased to be authorized tender since February 10, the Presidency has dismissed as false the assertion that the Federal Authorities or the apex has refused to recognise outdated N200, N500 and N1,000 notes as authorized tender regardless of Supreme Court ruling....CONTINUE READING>>>

Zamfara, Kaduna and Kogi had approached the Supreme Court of Nigeria for reliefs on behalf of their residents to problem the Feb. 10, CBN deadline for old naira notes to stop to be authorized tender.

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The Supreme Court in it’s ruling on Feb. 8, directed all events to keep up the status quo abd quashed the Feb.10, 2023 deadline until the dedication of the case which was adjourned to Feb. 15, 2023.

However, financial establishments together with banks in addition to submitting stations, supermarkets and other enterprise owners have continued to reject the previous Naira notes regardless of the Supreme Court ruling.

Some banks have been reported to have based mostly their choice of rejecting the old notes on a circulation emanating from the CBN.

The Governor of the CBN was also quoted at a gathering with diplomats in Abuja on Tuesday as saying that the previous notes have been not authorized tender from Feb. 10, 2023.

Malam Garba Shehu, the President’s spokesman, late Tuesday night time in a statement, nonetheless, stated:

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”We want to state that it isn’t true that the Federal Authorities 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 earlier than the Supreme Court.

”The position of the federal government and the CBN will be made identified upon the determination of the suit arising tomorrow.”