Socio-Economic Rights and Accountability Project (SERAP) at the weekend disclosed that it has filed a lawsuit against President Muhammadu Buhari over “the unlawful directive banning the use of old N500 and N1,000 banknotes, contrary to the interim injunction granted by the Supreme Court that the old N200, N500, and N1000 banknotes remain legal tender.”
Joined in the suit as defendants are the Central Bank of Nigeria (CBN) and Abubakar Malami, the Attorney General of the Federation and Minister of Justice.
The Supreme Court had, in a case initially brought by ten states, held that the old N200, N500, and N1000 banknotes remain legal tender until the determination of a motion on notice fixed for February 22.
Also, recall that the deadline for the swap of the old notes expired on February 10.
However, Buhari, in a national broadcast last Thursday, ordered the CBN to recirculate only the old N200 notes, thereby overruling the apex court and banning the use of old N500 and N1,000…
