Old Naira notes remain legal tenders – Supreme court

In spite of the Central Bank of Nigeria’s insistence on old Naira notes no longer being legal tenders, the Supreme Court has ruled that its February 8 order barring the Federal Government and its agencies from enforcing the February 10 deadline for the use of old 200, 500 and 1000 naira notes still subsist. 

The ruling was made on Wednesday, February 15, following complaint by lawyer to Kaduna, Kogi and Zamfara states, Abdulhakeem Mustapha (SAN) that the Federal Government and its agencies have failed to comply with the order and have allegedly directed the rejection of the old notes. 

Mustapha who also revealed that they’ve filed a notice of non-compliance with the order of the court order made on February 8, urged the court take action against the respondent to protect the dignity of the court. 

He added; 

That order has been flouted by the government. We are talking of executive lawlessness here. We have filed an affidavit to that effect.

We want the court to renew the order for parties to be properly guided.

Justice John Okoro who led the seven-member panel of the court, asked Mustapha to filed a proper application to put forward his complaints and to enable the respondent respond appropriately. 

Justice Okoro who also noted that there’s no need for a renewal of the court’s order since the motion is yet to be heard.  

The Supreme Court fixed February 22 for hearing of the suit filed Kaduna, Kogi and Zamfara states challenging the propriety the naira swap policy of the Federal Government.