Old naira notes remain legal tender – Supreme Court

Old naira notes remain legal tender – Supreme Court

Promise Eze

The Supreme Court on Wednesday affirmed the validity of the use of old 200, 500 and 1000 naira notes.

The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.

According to Nation Newspaper, the clarification from the court followed a complaint by Abdulhakeem Mustapha (SAN), lawyer to the Kaduna, Kogi and Zamfara states respectively.

Mustapha said the plaintiff filed a notice of non-compliance with the court order made on February 8. And demanded that 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 presided over a seven-member panel of the court, asked Mustapha to file a proper application to put forward his complaints and to enable the respondent to respond appropriately.

The Supreme Court injunction is coming hours after the Central Bank disclosed that the old notes ceased to remain legal tender.

Peoples Gazette reports that several traders in Akure, the Ondo capital, on Monday rejected the old naira banknotes of N200, N500 and N1,000 despite the extension of their validity by the Supreme Court of Nigeria.

Also, a Twitter user The Companero lamented that BRT officials at Lagos are rejecting the old naira, thereby causing hardship among commuters.

He wrote: “This is the current situation at Ikorodu BRT terminal. old naira notes are being rejected by the BRT officials as directed by their boss. people are getting agitated and something needs to be done before it gets out of control. @jidesanwoolu @followlasg @PoliceNG @blackboxupdate.”

Here’s the Tweet below:



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