The Presidency has dismissed as false the assertion that the Federal Government or the Central Bank of Nigeria had refused to recognize old N200, N500, and N1,000 notes as legal tender despite a Supreme Court ruling.
The Zamfara, Kaduna, and Kogi States governments had approached the Supreme Court of Nigeria over the issue.
They are seeking relief on behalf of their citizens to challenge the February 10, 2023, CBN deadline for old naira notes to cease to be legal tender.
The Supreme Court in its ruling on February 8, 2023, directed all parties to maintain the status quo and quashed the February 10, 2023 deadline till the determination of the case, which was adjourned to February 15, 2023.
However, financial institutions, including banks as well as filling stations, supermarkets, and other business owners, have continued to reject the old Naira notes despite the Supreme Court ruling.
Some banks were reported to have based their decision of rejecting the old notes on a circular that emanated from the CBN.
The Governor of the CBN, Godwin Emefiele, 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.
The Branch Controller, CBN, Bauchi, Haladu Idris Andaza, also confirmed this position on Monday when he briefed newsmen.
But the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said in a statement on Tuesday night that this was not so.
President Muhammadu Buhari’s spokesman 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 (today).”
