Today marks the end of the Central Bank of Nigeria’s deadline to phase out the circulation of old Naira notes; however, the silence by the country’s apex bank over the Supreme Court’s judgement restraining it from implementing the deadline has left Nigerians confused.
On Wednesday, the country’s apex court, in a majority judgement, restricted CBN from banning the circulation of the old notes.
The court’s decision received mixed reactions. While on the one hand, some lauded the court’s position, on the other hand, some faulted the decision.
During an interview on Arise Television, Attorney General of the Federation, Abubakar Malami, on Thursday stated that the government is hopeful that the Supreme Court ex parte ruling, which expires on Wednesday, February 15, 2023, would be upturned.
He affirmed that the Federal Government would obey the court order.
Osita Nwanisobi, the Director of the Corporate Communications Department of CBN, did not reply to calls or texts before this report was filed.
Meanwhile, on Friday, on his Twitter handle, the former Minister of Aviation and member of the Tinubu/Shetima presidential campaign council, Femi Fani-Kayode, said the Federal Government bowed to the will of the Supreme Court.
“The FG has bowed to the will of the Supreme Court and declared that the old naira notes remain legal tender unless and until the court says otherwise”, he tweeted.