Naira Notes: 24-Hours To CBN Deadline Anxiety Over S/Court Order

Twenty-four hours to the Central Bank of Nigeria, CBN scheduled deadline on the use of the old naira notes, Nigeria is in anxiety over the readiness of the apex bank to implement the interim ruling of the Supreme Court to push back the deadline.

GWG.ng reports that following the interim order that Governor Godwin Emefiele met with President Muhammadu Buhari over the issue.

No briefing was given by the CBN governor or the State House on the meeting putting Nigerians in suspense on the use of the old naira notes.

The Kaduna, Kogi and Zamfara State Governments had on Tuesday dragged the Federal Government to court to stop the CBN from going ahead with the February 10 deadline for the use of the old notes.

The Supreme Court had in an exparte order on Wednesday asked the CBN to push forward the deadline pending hearing on the substantive suit scheduled for February 15.

However, many Nigerians are in suspense over the silence of the Federal Government and the CBN on the court order. Though the Attorney General of the Federation, Abubakar Malami, SAN late on Wednesday declared the administration’s opposition to the suit, his silence on whether the CBN was bound by the judgment has left many Nigerians in suspense.

A senior presidential aide speaking to GWG.ng on the basis of anonymity disclosed that President Buhari was not one that would disobey court orders.

“You know the president and the fact is that an order has been given he obeys court orders and it is unlikely that he would violate it. But I have not been briefed,” the senior administration official told GWG.ng

The anxiety in Nigeria on the issue has been exacerbated by a legal opinion which submitted that as the CBN was not a party to the suit that it was not bound by the court order on the deadline on use of the old naira notes.

The CBN is expected to speak on the issue Thursday.

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