There have been insinuations that the Federal Government and the CBN had taken a final decision on the legality of the older notes but a fresh statement from the presidency has confirmed they are yet to make their positions public on the issue in view of the case pending before the Supreme Court.
According to the Presidency spokesperson, Mallam Garba Shehu, once the supreme court gives its ruling on the issue, the presidency will go ahead and reveal the federal government’s position on the currency swap.
The statement said, “Following series of enquiries, we wish to state that it is not true that the federal government or the CBN has taken a pre-emptive 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 Wednesday.”
Recall on February 8, 2023, the Supreme Court suspended the earlier deadline set aside by the CBN ordering Nigerians to stop using the old naira notes.
The apex bank had ordered citizens to return the old N1,000, N500, and N200 banknotes for a redesigned currency by February 10, 2023.
This deadline was however, stopped by the apex court ruling in an ex parte application by three states – Zamfara, Kogi, and Kaduna pending the hearing and determination of the case which was fixed for hearing today, February 15, 2023.
However, fresh information from the Supreme court has revealed the apex court has again, adjourned the case to February 22, 2023.
The Punch, however, reveals that the old order to suspend the ban of the now older N200, N500, and 1000 naira notes subsists pending the hearing of the case by the Supreme court.