Supreme Court knocks out Buhari’s led CBN order, says old naira notes remain legal tender

Supreme Court has knocked out Buhari’s Central Bank of Nigeria (CBN) order as it insists that the N200, N500, and N1,000 denominations of the old Naira notes remains legal tender.

This is as the apex court said its February 8 order barring the Federal Government and its agencies from enforcing the February 10 deadline for the use of old 200, 500 and 1000 naira notes still subsist.

The court made the clarification on Wednesday following complaint by lawyer to Kaduna, Kogi and Zamfara states, Abdulhakeem Mustapha (SAN).

Mustapha had complained that the Fed Government and its agencies have failed to comply with the order and have allegedly directed the rejection of the old notes.

The lawyer said the plaintiff filed a notice of none-compliance with the order of the court order made on February 8, demanding 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 respond appropriately.

In a related news, , the Supreme Court adjourned the suits filed against the CBN by various state governments till Wednesday February 22, 2023 for hearing.