By BASHIR ADEFAKA
The deadline for withdrawal of old Naira notes in Nigeria’s money sector comes in 24 hours from today Thursday February 16, 2023.
Ahead of this expiration, President Muhammadu Buhari, in a national broadcast, told citizens that his government had extended legality of “only the N200” note till April 10 that is an extension by 60 days from the earlier February 10 fixed by the Central Bank of Nigeria (CBN).
The Supreme Court had issued an interim order stopping the CBN’s withdrawal of the old money, pending its determination of suit before it against the Federal Government.
But the Attorney General of the Federation (AGF) and Minister of Justice, Mallam Abubakar Malami (SAN), went back there and filed an appeal.
Details of the appeal were not available to The DEFENDER.
However, because money matter is on the exclusive list away from matter between states that sued and Federal Government but simply between the CBN and the Executive, the court interim ruling was not implementable, our investigations revealed.
The AGF had asked, beyond the ten more that had written to be joined in the case, that all 36 governors of the Federation should join in the suit.
When the suit resumed for hearing at apex court on Wednesday February 15, it was again adjourned till February 22.
Against several reports in circulation, where the new Naira redesign policy stands today is that all old currencies namely N200, N500 and N1,000 are no more legal tender in the country with the exception “only the N200”, which legality has been extended by presidential pronouncement till April 10.
CBN guidelines on old Naira withdrawal
