Federal Government Says It Await Supreme Court’s Ruling On Naira Swap

As tension heightened on the naira swap crisis, Federal Government says it will make its position known today.

A presidential spokesman, Mallam Garba Sheu, in a statement on Tuesday night said the position would be made public, after the supreme council gave its verdict today, on the suit filed by some of the state governments to challenge the naira swap deadline.

The apex court is expected to give its final verdict today, as a follow up to its extension of the naira notes swap deadline to February 25, while ruling last week on an exparte motion filed by the state governments.

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Sheu explained that so far, Federal Government and the Central Bank of Nigeria (CBN) had not taken a pre-emptive step against the extension of the policy deadline by the supreme court.

But, the cbn governor in defiance of the apex court’s ruling, on Tuesday insisted that the deadline had ended on February 10.