Supreme Court Shifts Old Naira Notes Withdrawal Deadline To March 3
Supreme Court Shifts Old Naira Notes Withdrawal Deadline To March 3
The Supreme Court has again extended the deadline for the withdrawal of the old N200, N500 and N1,000 notes from circulation till March 3.
The apex court on Wednesday fixed the March 3 date for hearing the consolidated suit filed by the some state government against the implementation of the naira swap policy of the Central Bank of Nigeria (CBN).
Justice John Okoro who read out the position of the court’s seven member panel said, the court would hear all the applications on the issue and take position.
He said the judiciary cannot be made a scapegoat of conflicts between the federal and state governments.
Justice Okoro was reacting to objection made by the Attorney General of Lagos State, Moyosore Onigbanjo that, the AGF cannot continue participating in the suit, after disobeying an earlier order of the apex court.
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Justice Okoro however said, the Apex Court would resolve the dispute over the naira swap policy, whether the Attorney General and other respondents appear before it or not,
The Apex Court in its first ruling on the application on February 8, ordered the CBN to extended the withdrawal of the old N200, N500 and N1,000 notes from circulation from February 10 to February 15
Later, the court on February 15, adjourned the withdrawal extension till February 22 when it would hear the motion.
On February 16, president Buhari in a nationwide broadcast ordered the CBN to re-circulate the N200 notes, but said N500 and N1,000 notes no more legal tender since February 10.
Since the announcement, security situation had heightened as desperate banks customers who could not access either the old N200 notes or the newly designed naira notes began staging protests
