Federal Government Says It Will Comply With Court’s Verdict On Old Naira Usage
Federal Government of Nigeria says it will comply with an order of the supreme court which extended the deadline for the use of old N200, N500 and N1,000 notes till February 15.
The apex court issued the temporary order on Thursday, while ruling on an application filed by three state governments to challenge the February 10 deadline.
The apex court said it would decide on the motion filed by the state governments on Wednesday, next week.
The Attorney General of the Federation, Abubakar Malami, hours after the order, filed a preliminary objection to challenge the ruling of the apex court.
Read Also:
Ogun in Talks with Federal Government over Ota-Abeokuta Road Project
But appearing on a television programme, hours after filing the suit, said Federal Government would comply with the position of the apex court until the order was set aside.
Malami faulted the ruling of the apex court on the ground that the Central Bank of Nigeria (CBN) which has constitutional powers over monetary issues, was not joined by three state governments in their application.
According to Malami, the supreme court would have been stripped of jurisdiction to hear the application, as the court of first instance, if the Central Bank of Nigeria (CBN) had been joined by the three state governments in their suit against the implementation of the cashless policy.
