President Muhammadu Buhari and the CBN will decide on obeying the Supreme Court today, says the Presidency.
“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,” Mr Buhari’s media aide Garba Shehu, late Tuesday night in a statement.
Mr Shehu added, “The position of the government and the CBN will be made known upon the determination of the suit coming up tomorrow (today).”
The Presidency claimed it, and the CBN had not refused to recognise the old N200, N500 and N1,000 banknotes as legal tender despite a Supreme Court ruling, a claim contradicted by the apex bank’s official in Bauchi.
Despite the Supreme Court ruling, financial institutions, filling stations, supermarkets, and other business owners have continued to reject the old naira notes. Several banks were reported to have based…
