Supreme Court says old naira remains legal tender, adjourns hearing to Feb 22 

The supreme court on Wednesday adjourned the hearing on the case brought against the Central Bank of Nigeria (CBN) on the naira redesign policy to February 22.

Kaduna, kogi and. Zamfara states had initially instituted the case against the federal government but nine states have filed to join the suit.

During proceeding on Wednesday, Counsel to Kaduna, Kogi and Zamfara, Abdulhakeem Mustapha asked the court to make an order directing the federal government not to implement a deadline on the old notes.

However, a seven-member panel of the apex court led by Justice John Okoro, said there was no need to issue a fresh order as “the interim order is pending the hearing on the motion on notice”.

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Reacting to the pronouncement earlier, the attorney-general of the federation (AGF), who is the sole respondent in the suit, Abubakar Malami said the federal government would obey the order in line with the rule of law. 

Despite the assurance to comply with the order, some commercial banks, filling stations, and traders have stopped accepting the old naira notes from customers.

Some state governors including that of Ogun State have issue threat to shut down commercial banks or filling stations that refuse the old naira notes.